Medibank Private Limited (ASX:MPL) is Australia's largest private health insurer, providing health insurance and integrated health services to approximately 4.2 million customers. The company operates through two main segments, Health Insurance and Medibank Health; the Health Insurance segment underwrites and distributes private health insurance policies under the Medibank and ahm brands, including hospital cover for treatments, ancillary extras cover for dental, optical, physiotherapy and other services, as well as packaged products, corporate health cover and policies for overseas visitors and students; the Medibank Health segment delivers virtual health, telehealth, homecare, preventative health, primary care through Amplar Health and Myhealth medical clinics, alongside travel insurance, pet insurance, life insurance, funeral insurance and income protection. Founded in 1976 as a government not-for-profit entity and headquartered at 695 Collins Street in Docklands, Victoria, Medibank primarily serves Australian residents with nationwide operations, listing on the ASX in November 2014 following privatization. Recent developments include increasing its stake in Myhealth medical clinics from 49% to 90% in early 2024 for approximately A$50.8 million to bolster primary care; entering an agreement in November 2025 to acquire Better Medical, a network of 61 GP and allied health clinics across Victoria, Queensland, South Australia and Tasmania, for around A$160 million subject to regulatory approvals and expected completion by Q3 FY26; and reporting solid FY2025 results with strategic emphasis on health services growth announced at investor events.