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| Type | Government Business Enterprise |
|---|---|
| Founded | 1976 as arm of the Health Insurance Commission |
| Headquarters | Melbourne, Australia |
| Key people | George Savvides (Managing Director) |
| Industry | Private Health Insurance & Disease management |
| Products | private health insurance, travel insurance, life insurance, pet insurance,travel medicine, workplace health promotion, workplace health management |
| Revenue | $3.9 billion AUD (2009[1]) |
| Operating income | $2143.4 million AUD(2009[2]) |
| Net income | $93.8 million AUD (2009[3]) |
| Employees | 3,200 |
| Subsidiaries | ahm (Australian Health Management) |
| Website | www.medibank.com.au |
Medibank Private is an Australian government-owned private health insurer, established under the Fraser government in 1976 through the Health Insurance Commission (now known as Medicare Australia). It is Australia's largest health insurance provider with 3.6 million members under two brands, and the only health insurer present in every Australian state and territory. Its Managing Director since 2002 has been George Savvides.
Medibank Private has recently acquired ahm (Australian Health Management), a health insurer based in Wollongong, and the HSA Group.[1]
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Non-profit/for profit
It operates as a Government Business Enterprise and is run as a not for profit organisation. In May 2009 the Rudd Labor government announced that Medibank would become a for profit business and would therefore in future pay tax on its earnings. The process of converting the status of the business was completed on October 1 2009.[2]
Privatisation proposal
In April 2006, the then Howard Liberal government announced its intention to privatise Medibank Private if re-elected at the next election[3]. Australian Labor Party policy was for Medibank to remain as a government business enterprise (GBE), reporting to the Minister for Finance.
Following the 2007 election, which Labor won, Medibank Managing Director George Savvides said he looked forward to working with the new Labor government but for Medibank employees and members it would be "business as usual" as they will remain a GBE, "which is what we know, removing the ownership change agenda from our planning process".
Sponsorship
Medibank Private's sponsorship policy is to support events and programs that encourage people to be healthy and active. It is the naming-rights sponsor of the annual Medibank International Sydney tennis event, and Junior Tennis in New South Wales. In 2009 Medibank Private teamed up with The Wiggles to launch "Wiggle Into Health", a joint initiative between Medibank Private with the aim of inspiring young families to adopt healthy behaviours that lead to a healthy life. Other important sponsorships include the West Coast Eagles AFL football team, the Medibank Private Active Tasmania Awards, and the naming rights to Medibank Private Stadium (formerly Leederville Oval), home of WAFL teams East Perth and Subiaco.
Notes
- ^ Linday Tanner Press Release
- ^ Linday Tanner Press Release
- ^ Medibank Private: Corporate Information
External links
- Medibank Private
- Wiggle Into Health
- Dept. of Parliamentary Services research brief on the proposed sale of Medibank Private
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