Medibank private acquires McKesson Asia-pacific

THE government-owned and biggest private health insurer Medibank Private has acquired phone and web-based healthcare services provider McKesson Asia-Pacific from US health giant McKesson Corp for an undisclosed sum.

The deal is Medibank’s third major acquisition in the past year in a bid to turn the health insurer into a significant player in health prevention and the management of chronic diseases.

In January last year, Medibank acquired Australian Health Management (AHM) for $400 million, followed by Health Services Australia (HSA) three months later.

McKesson Asia-Pacific has managed Medibank’s Better Health phone service for five years. “This is a logical acquisition for Medibank,” managing director George Savvides said.

“McKesson Asia-Pacific fits into our health solution business, which has revenues of over $160m a year.

“With the addition of McKesson business which turns over $75m a year in revenue in Australia and New Zealand, our health solution portfolio will now grow to $235m in annual revenue.”

Mr Savvides said that with an ageing population, private health insurance companies had to become more relevant in managing and preventing chronic diseases such as diabetes, obesity and heart conditions.

source: theaustralian.com.au

About Mckesson
McKesson Corporation is the oldest and largest company in healthcare services and products in the U.S. The pharmaceutical wholesale history of the company dates back to more than 174 years. With a phenomenal growth, today, McKesson stands as the undisputed champion of the health care industry. Currently, McKesson is proud of being the largest distributor of pharmaceutical products in North America, individually supplying more than one third of the medicines used everyday by the pharmacies, medical centers and doctors. Most interestingly, McKesson is the first one to create nation-wide drug distribution system in the country. With its long and successful track record in the healthcare industry, the company has been able to succeed today in developing an economic, high-quality health care system with fewer mistakes. McKesson provides A-Z solutions to the healthcare industry in the areas of pharmaceuticals, medical supplies and technologies with high levels of safety measures and economic budget. One can say that investing advanced technology, McKesson has virtually touched every single aspect of healthcare industry