Medibank has completed its acquisition of health technology company Medinet as part of its ongoing strategy to enhance digital healthcare offerings.
Medinet, developed by Australian healthcare professionals, operates virtual platforms that facilitate communication between general practitioners and their patients.
The acquisition follows Medibank’s initial investment in Medinet in March 2022.
Under the agreement, Medinet’s team will be integrated into Medibank’s Digital & Ventures division. The move aligns with Medibank’s efforts to strengthen its digital health capabilities and improve service delivery through technology-driven solutions.
Rob Deeming, Medibank’s group lead for Digital & Ventures, said the acquisition would support the company’s goal of creating connected healthcare experiences for consumers.
“The team at Medinet has some incredible capabilities in health system interoperability which will be pivotal to the connected experiences that we know will have a big impact on our customers and the community,” he said.
Following the transaction, Medinet’s Joel Hynoski will take on the role of head of platform and engineering within Medibank’s Digital & Ventures team. The integration is expected to help accelerate Medibank’s digital health initiatives.
“Medibank’s vision is to create the best health and wellbeing for Australia. We are executing on the opportunity to reimagine healthcare and how it is delivered, and the experience and expertise within Medinet will enable us to move faster,” Deeming said.
The Medinet acquisition follows Medibank’s 2024 purchase of Pinnacle Health Group, a corporate health and wellbeing provider. The Pinnacle acquisition aligns with Medibank’s broader objective of expanding its presence in workplace health services.
Founded in 2010 by physiotherapists Tom Bosna and Josh Lambert, Pinnacle Health Group offers a range of corporate health services, including employee health assessments, skin cancer screenings, physiotherapy, and ergonomic evaluations.
