Bupa welcomes mbf policyholders merger vote

The policyholders of MBF, Australia's second largest health fund, have voted overpoweringly in favor of a proposed merger with Bupa Commonwealth of Australia.

In Dec last year, the MBF Board announced its support for Bupa's proposal to combine the two businesses and create Australia's lead private wellness fund. Since then, blessing for the amalgamation has been granted by the MBF Council and the Aussie Competition and Consumer Commission.

Bupa chief executive director Val Gooding said: "The result of today's vote by MBF's policyholders is a strong endorsement of their support for the proposal to bring MBF and Bupa Commonwealth of Australia together. Today marks the penult step in the formation of a subject health insurance company for Commonwealth of Australia, which will deliver significant benefits for existing and new client of both wellness funds as well as the wider Aussie health sector. The merged group will have entree to a wealthiness of wellness expertise, allowing it to take a leading role and, significantly, help keep buck private health insurance more affordable for Australians."

The amalgamation is now topic to final blessing from the Aussie Federal Court.

In Commonwealth of Australia, Bupa trades as HBA and Mutual Community. Bupa first entered the Aussie market in 2002 with the purchase of the businesses from AXA Asia Pacific Ocean. Currently, Bupa Commonwealth of Australia covers more than a 1000000 Australians. With MBF the combined health funds will create a wellness insurer with a subject footprint providing coverage for close to three 1000000 customers. Forty-four per cent of Australians have buck private health insurance.

MBF is Australia's largest, non-government private wellness insurer natural covering nearly 2 1000000 people.  MBF provides private wellness insurance end-to-end Australia and is the figure one or figure two buck private health insurance company in Queensland, New South Wales, Tasmania and the Northern Territory.  In add-on to its core buck private health insurance business, the MBF group of companies offer life and travel insurance.