Medibank Unveils New Ambition for Health Beyond Insurance
10/29/2025
Medibank (ASX:MPL) has outlined a bold new direction to deepen its role in the Australian health system, setting an ambition to help Australians achieve better health through more affordable and accessible care. The strategy, announced on 29 October 2025, signals a shift beyond traditional insurance, with a focus on playing a broader role as a health company.
The company is leveraging its dual brand model, operating both Medibank and ahm, and expanding into health services to deliver integrated support across prevention, treatment and ongoing care. This includes partnerships, new health programs, and investment in primary and community care infrastructure.
CEO David Koczkar said the ambition is to address some of the biggest challenges in Australian healthcare. “Australia has a world class health system, but it is under pressure. Our ambition is to play a larger role in helping Australians live better, healthier lives by improving access, affordability and outcomes,” he said.
The updated strategy has three core priorities:
Core business performance: Medibank will continue investing in the performance of its health insurance business, including customer experience, digital service, and affordability. This includes maintaining a strong net promoter score, improving claims value, and enhancing health support offerings.
Health services growth: The company will grow its presence in health services through investments in in-home care, short stay hospitals, mental health support, and rehabilitation. Notably, it will expand its community care footprint, including through My Home Hospital in South Australia and an upcoming expansion into Victoria.
System-wide impact: Medibank aims to partner more broadly across public and private health sectors to contribute to a more sustainable health system. This includes efforts to shift care into the community, address pressure on hospitals, and work towards better integrated care models.
The company reaffirmed its financial guidance for FY26, targeting $1.2 billion in group operating profit and 300 million in health services revenue, with cumulative capital investment of 250 to 300 million over four years. This investment is expected to be funded from existing capital.
To support these ambitions, Medibank is investing in new capabilities, including data and analytics, technology and clinical governance. It is also aiming to create value for shareholders through disciplined capital management, operational efficiencies and growth across both insurance and services.
Koczkar stressed the importance of partnerships in achieving these goals. “We know we cannot do this alone. Our success will depend on partnering with governments, clinicians, the not for profit sector, and the broader community to deliver the right care in the right place at the right time.”
Medibank’s refreshed purpose — Better Health for Better Lives — will guide the organisation’s decision making and its role in a changing healthcare landscape. With rising demand, workforce shortages and increasing costs affecting the entire system, the company is positioning itself as an active contributor to long term solutions.
This new ambition builds on Medibank’s existing work in health services and follows a strategic review aimed at future proofing the business. The company has made clear that while insurance remains central to its operations, its future lies in providing a broader platform for health.