Medibank announces acquisition of McKesson

Medibank announces acquisition of McKesson Asia-Pacific

Medibank, Australia's largest integrated private health insurance and health services group, today announced it has signed a Share Purchase Agreement to acquire fellow health services provider, McKesson Asia-Pacific Pty Ltd, as an extension of its health management capability.

McKesson New Zealand Ltd, which delivers Healthline and other telephone health services in New Zealand, is a fully owned subsidiary of McKesson Asia-Pacific and forms part of the acquisition.

Medibank Private Managing Director, George Savvides, expressed his enthusiasm for the acquisition and said it was a natural extension to their current long-term business relationship with McKesson Asia-Pacific and to the work both organisations are currently delivering in the broader health system.

"McKesson is a unique and quality health services provider delivering programmes to government, the health sector, corporations and health insurers, including Medibank Private.

"We have worked with McKesson Asia-Pacific over the past five years and this has allowed us to see first-hand the strengths of the McKesson business. We believe that an acquisition has significant benefits for both organisations and our customers and we are committed to delivering the quality services currently offered by McKesson," Mr Savvides said.
McKesson's telephone health management programmes include New Zealand's Healthline, and the Australian-based healthdirect Australia, NURSE-ON-CALL, and betterhealth On Call.

Mr Savvides says the acquisition will not affect the delivery of services currently provided by McKesson New Zealand, which will begin trading as Medibank Health Solutions NZ Ltd.

"Medibank is committed to the delivery of high-quality services to our New Zealand customers. Healthline and other services will continue to be provided by a New Zealand-registered company, and it will be business as usual for clients and callers."
The acquisition is subject to regulatory approval.

ENDS

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