Media releases

August 30, 2010

Medibank announces acquisition of Carepoint

Medibank announced today it has purchased West Australian-based Carepoint Industrial Health Services, as part of its Health Solutions business.

Medibank Managing Director, George Savvides, expressed his enthusiasm for the acquisition of the Carepoint business which provides occupational health, rehabilitation and travel health services to industrial companies across Western Australia through Carepoint Industrial Health Services Pty Ltd and Carepoint Physiotherapy Services Pty Ltd.

"Carepoint is an excellent fit with Medibank. Carepoint's ethos and commitment to their customers aligns with ours, and we have been very impressed with the expertise of their staff," Mr Savvides said.

"We are very pleased to announce our acquisition of the Carepoint business - it will bring considerable benefits to both organisations. I look forward to working with the Carepoint team and exploring opportunities to grow our Medical & Allied Health Services division."

The acquisition of Carepoint offers the Medibank group an opportunity to fast track growth plans for its Health Solutions business in the West.

"We are investing heavily in Western Australia and our existing team will be significantly enhanced with the addition of Carepoint. We recently won the Gorgon contract to deliver health services on Barrow Island and the new team will help boost our capacity, expand our services, and establish a number of new projects in the region."

One of the Carepoint vendors, David Wee, who established the company in 1994, said he saw the acquisition as a positive step that will strengthen the business.

"This signals a new era for Carepoint, as we join a secure national organisation with similar values and an ethos of customer commitment. I am confident that together we can make a much bigger difference to the health of West Australians," Mr Wee said.

"I would like to thank David for his vital contribution to Carepoint. I am grateful for his professionalism and his commitment to the organisation as well as his advice which will assist Carepoint in making a smooth transition to the Medibank family over the coming months," Mr. Savvides said.

Medibank is not only Australia's largest health insurer but also one of Australia's largest health services providers with a unmatched range of products and services we offer to our health fund members (both Medibank and ahm), as well as to corporate and government clients.

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