Medibank Private (MPL) Status Update summary

Strategic aspirations and growth targets

• Aims to grow health segment earnings from $76.7m in FY25 to at least AUD 200 million by FY 2030, focusing on both organic and inorganic growth, including M&A in primary care and well-being.

• Targets supporting or engaging 10 million people in health and well-being by FY 2030, doubling current engagement.

• Maintains disciplined market share growth in private health insurance, with a revised aspiration of 26.8%+ by FY 2030.

• Investments in health services outside insurance have exceeded AUD 300 million over the past decade, supporting a broader health company transformation.

• Disciplined capital allocation and readiness to invest further to exceed growth aspirations.

Market context and health system transformation

• Australian health system faces rising consumer expectations, aging population, chronic disease, and mental health challenges.

• Hospital capacity constraints, workforce shortages, and system inefficiencies are increasing pressure on both public and private systems.

• Out-of-pocket costs are above OECD averages, leading to care avoidance and highlighting the need for system reform.

• Regulatory and funding models are evolving, with opportunities to partner in reform and pilot new care models.

• Draws on global case studies (South Africa, Singapore, Sweden, UK) to inform strategy and demonstrate effectiveness of system shifts.

Innovation, technology, and digital transformation

• Emphasizes four key shifts: treatment to prevention, hospital to home/community, analog to digital, and generic to personalized care.

• Technology investments include digital mental health, AI-enhanced diagnostics, remote monitoring, genomics, and data-driven precision care.

• Focuses on digital identity, interoperable health data, and virtual care to improve access, efficiency, and patient experience.

• Data security and ethical innovation are prioritized as technology scales across health services.