Liverpool health cash plan provider Medicash is reporting a year of ‘exceptional growth’ with revenues rising 21% to a record £61.7m and a surge in pre-tax profits. Tony McDonough reports

Health cash plan provider Medicash is reporting a 21% surge in annual revenues to £61.7m with the number of policyholders now standing at 680,000.

In its financial results for the 12 months to December 31, 2024, Liverpool-based Medicash saw its total number of policyholders increase by 9% to 641,000. It hit the 680,000 figure at the end of June this year.

Medicash also saw its profits rise significantly to £5.7m during the year, well ahead of the £1.8m achieved in 2023 but a big improvement on the £2.2m loss in 2022. More than 4,800 companies across the UK now offer Medicash benefits.

Founded in the charity hospitals of Liverpool in 1871, Medicash has become the UK’s oldest and largest corporate health cash plan provider. 

In 2023 Medicash acquired its One Derby Square home – the former Pearl Assurance House – in the city centre for £12m. Owning the 70,161 sq ft building saves it around £200,000 a year in rent and provides a rental income stream from other tenants.

“Our sustained growth is a testament to the strength of our digital-first strategy and our commitment to preventative healthcare,” said Andy Roberts, finance and IT director at Medicash. 

“We’ve continued to evolve both our internal systems and the digital services available to policyholders, enabling us to deliver highly competitive, affordable cover while keeping administrative costs low.”

Medicash has introduced “life-enhancing” benefits such as HealthLens and Eargym. These are designed to detect early signs of illness and promote long-term wellness.

HealthLens uses smartphone cameras to assess key indicators such blood pressure and cardiovascular risk, while Eargym offers interactive exercises to strengthen hearing and identify potential issues early on.

Medicash continues to proudly support a range of charitable and community causes. In 2024, the Medicash Foundation donated more than £360,000 to community health and wellbeing projects.

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Andrew Healy, Medicash chief executive, added: “Our business performance in 2024 and to date in 2025 has been highly encouraging. We’re giving employers market-leading offerings to truly enhance the health and wellbeing of their workforces.

“We’re combining outstanding customer service with smart investments in technology, ensuring we deliver high-quality healthcare solutions that people can trust.”