The Royal Society for Public Health (RSPH) has bought the Institute of Healthcare Management (IHM) as part of an "austerity measure" by the institute.
The deal, which was inked at the end of October, sees IHM merging with the RSPH to share "back office functions" but retaining its company status and identity.
Confirming the move, chief executive of the IHM Sue Hodgetts, rejected the idea that the move was made in light of dwindling membership but acknowledged it formed part of an "austerity measure" by the company.
"Strategically, joining RSPH is a very positive step for the IHM and will help us to continue our work enhancing and promoting high standards of professional health and care management," she said.
We have been significantly impressed by the RSPH, especially as a membership body, and they are the perfect partner to help us develop and improve our membership services.
"We would like to assure our members and colleagues that we will maintain the IHM identity and will continue to work towards our key objectives of delivering the same excellent standard of service that we have provided for the last 100 years."
Professor Richard Parish, chief executive of the RSPH, said there are "great similarities" between the goals and vision of RSPH and the IHM and claimed the opportunity to combine the resources and experience of the two organisations is "valuable".