Argus acquires two Bermudian primary care medical practices

Argus Group Holdings has acquired two primary care medical practices, Island Health Services and the Family Practice Group.

The acquisitions are part of Argus’ strategy to diversify its operations and develop a business model that drives up quality of healthcare while reducing costs, Argus said.

The medical practices will operate as usual for now, with a number of strategies designed to improve service and reduce costs set to be announced in the coming months.

Alison Hill, chief executive officer of The Argus Group, said: “We enter this alliance with a shared, single-minded intention to provide high quality healthcare whilst simultaneously working hard to tackle increasing costs and health insurance inflation. By joining insurance and healthcare together, we aim to make quality care more affordable for more people.”

Peter Lozier, chief executive for the Americas at The Argus Group, said: “Echoing global trends, a new healthcare delivery model is being introduced in Bermuda and the alliance we are forming is based on the model of existing practices in other best-in-class healthcare systems across the globe. These forms of partnerships are examples of how companies have aligned together behind the goal of helping to improve the healthcare system.”

Gerhard Boonstra, director of Island Health Services, welcomed the chance to positively impact health and help rewrite healthcare in Bermuda. “This is a tried and tested formula that we believe will refine and streamline our current system, resulting in better outcomes for all our patients, no matter their insurance provider,” he said.

Louise White of the Family Practice Group added: “Change is always difficult and we have all had a lot of change recently. By joining forces with these two well established Bermudian companies, The Family Practice Group will have the stability and security to continue to serve all our patients and continue to offer the physician-led, patient-centred care that they are used to. The only change ahead is that we will get better together.”

Basil Wilson, director at Island Health Services, promised innovations and improvements would be implemented, including enhanced biometric health tracking and health and wellness programmes focused on improving health, not just treating illness.

“There will be no service changes for anyone who is currently registered with Island Health Services or the Family Practice Group, and all are welcome to continue seeing their doctors,” Wilson said. “Our intention is not to exclude anyone, our intention is to make healthcare better for everyone. Regardless of your health insurer, you will be welcome and able to see your primary care physician.”

Argus’ initial partnership with Island Health Services began over Shelter in Place when it reintroduced its 24/7 telenurse hotline service, noted Lozier.

“Through this partnership, Island Health Services has been able to provide telehealth consults with no copay to patients in need, diminishing unnecessary visits to doctors’ offices and the hospital while we worked to limit the spread of the coronavirus,” he said.