The Bupa Foundation is to close as Bupa will no longer provide it funding to support medical research in the UK.

The Bupa Foundation has been in operation for 33 years and has four members of staff. It will close on the 28th June 2013. The charity is currently in negotiations with staff about their future.

A spokeswoman said that it was talking with other organisations to take management of its current grants and added it was working to ensure that all grant holders have continuity of care.

Bupa is looking at new ways of making charitable donations in the UK, to directly align its giving with its goals. Bupa donated around £3m each year to the Bupa Foundation.

Dr Paul Zollinger-Read, chief medical officer for Bupa has said: "We would like to thank all the Foundation’s governors, members and staff for the outstanding and significant contributions they have made to medical research in the UK over the past 30 years."