Medibank (ASX:MPL) announces investment in Myhealth Medical Group

Company News

by Anna Napoli

Medibank (ASX:MPL) has snapped up a 33.4 per cent stake in primary clinic operator Myhealth Medical Group.

Medibank says the acquisition will strengthenits focus on preventative health and doctor-led partnerships.

Myhealth was founded in 2007 and delivers more than 2.5 million patient consultations a year. The fastgrowing group has tripled its number of clinics over the last 5 years and has a network of 86 clinics in prime locations across three states.

Medibank Chief Executive Officer Craig Drummond said Medibank’s investment in Myhealth recognises the vital role of GPs in providing primary care to patients in their local communities and the positive impact this has on the entire health system.

Shares in medibank are trading 0.17 per cent higher at $3.03.