|
 | about Bupa | press releases
Bupa welcomes MBF’s progress to vote on merger
8 February 2008
The Council of MBF Australia Limited, Australia’s second largest health fund, today approved amendments to MBF’s constitution, allowing its policyholders to now vote on the proposed merger with Bupa Australia.
In December 2007, the MBF Board announced its support for the A$2.41 billion merger proposal to combine its business with Bupa Australia and create Australia’s leading private health fund.
Bupa Chief Executive Val Gooding welcomed the Council’s decision. “Today’s decision by the Council of MBF brings us another step closer to creating a national health insurer in Australia, which will provide enduring benefits for customers.
"The merged group will have access to a wealth of health expertise, allowing it to take a leadership role and, importantly, help keep private health insurance more affordable for more Australians."
The proposal, which has already received approval from the Australian Competition and Consumer Commission (ACCC) and the Foreign Investment Review Board (FIRB), will be voted on by MBF policyholders in May.
Bupa trades in Australia as HBA and Mutual Community. Bupa first entered the Australian market in 2002 with the purchase of the businesses from AXA Asia Pacific.
Currently, Bupa Australia covers more than a million Australians. With MBF the combined health funds will create a health insurer with a national footprint providing coverage for close to 3 million customers. Forty four per cent of Australians have private health insurance.
Back to the latest press releases
|
