GMHBA Limited is pleased to announce that we have acquired the niche online health fund, health.com.au.

Health.com.au currently has over 40,000 policies providing health insurance cover to more than 85,000 Australians.

Health GMHBA CEO Mark Valena said the health.com.au business is a good fit for GMHBA and its members.

“Our experience and success establishing Australia’s first online health fund, Frankhealthinsurance.com.au, puts us in a unique position to deliver health.com.au’s full potential,” Mark said.

“Our members can be assured that the deal we negotiated represents value,” he said.

“Our experience and success means we are very well placed to generate sound returns from the health.com.au business, and as we do, all GMHBA fund members will be the beneficiaries of that success.”

Mark said that diversity and scale are important to delivering stability to GMHBA and its members and that the health.com.au acquisition adds to the breadth of GMHBA’s investment portfolio.

Health.com.au will continue to run as a separate brand as part of GMHBA’s multi-brand portfolio including GMHBA Health Insurance, Budget Direct Health Insurance and Frank Health Insurance.