Western Australia’s largest health insurer HBF is seeking a AU$4 billion (US$3.2 billion) merger with Sydney-based HCF that would give the combined companies more than 2.5 million companies.
HBF has agreed in principle with HCF to a merger that would create a AU$4 billion (US$3.2 billion) company with a near 20% market share.
The merger, if successful, will make the combined HBF and HCF the nation’s third biggest health insurer, behind Bupa and Medibank Private.
HBF and HCF said they would retain their individual identities and continue to be run by their own management under a new umbrella company guided by a common board of 10 directors.
HBF chief executive officer John Van Der Wielen said his company had been reviewing its strategy to ensure it could continue to provide policyholders with the best possible health cover in a competitive market.
Full Content: ABC News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI