The Department of Finance has successfully completed the sale of Medibank Private Limited (Medibank Private) through an Initial Public Offering (IPO). The sale followed the Government’s consideration of the Scoping Study into the sale of Medibank Private undertaken by the Department of Finance and its advisers in October 2013.
The Government’s objectives for the sale of Medibank Private were:
- to contribute to an efficient, competitive and viable private health insurance industry;
- to maintain service and quality levels for Medibank Private customers, including in regional and rural Australia;
- to ensure the sale process treats Medibank Private employees in a fair manner, including through the preservation of accrued entitlements;
- to minimise any post-sale residual risk and liabilities to the Commonwealth; and
- having regard to the above objectives, to maximise the net sale proceeds from the sale of Medibank Private.
The Medibank Sale Taskforce, which is part of the Business, Procurement and Asset Management Group, in the Department of Finance implemented the sale. The Taskforce was assisted in the sale process by a range of expert advisers. The advisers appointed to the sale can be viewed on the AusTender website.
For more information please visit Medibank Sale Frequently Asked Questions.
Medibank Private IPO
The Medibank Private Share Offer has been completed. 100 per cent of Medibank Private shares have been sold. Medibank Private listed on the Australian Securities Exchange on 25 November 2014.
For more information on the Offer, please call 1800 998 778, or visit the Medibank Sale Frequently Asked Questions.