Medibank agrees to acquire Pinnacle Health Group to accelerate corporate health and wellbeing growth
Medibank today announced it has agreed to acquire Pinnacle Health Group, a leading corporate health and wellbeing provider in Australia.
This strategic move is part of Medibank's ambitious 2030 vision to create the best health and wellbeing for Australia.
Founded in 2010 by physiotherapists Tom Bosna and Josh Lambert, Pinnacle Health Group has established itself as a trusted partner to over 200 corporate clients across Australia.
With a national network of health practitioners, Pinnacle Health Group specialises in delivering a wide range of services including skin cancer checks, employee health assessments, onsite physiotherapy, ergonomic assessments, and more.
Pinnacle Health Founder and CEO Tom Bosna emphasised the critical role workplaces play in fostering healthy behaviours among employees.
"We started Pinnacle because we recognised that it can be challenging for people working in Australia to prioritise their wellbeing amidst busy schedules,” Tom said.
“Our programs are designed to integrate seamlessly into the workplace environment, supporting employees in achieving their health goals.”
Following the acquisition, the services of Pinnacle Health Group will be offered by Medibank as part of its corporate health and wellbeing offering.
"We are looking forward to welcoming the Pinnacle Health team into the Medibank family. We have enjoyed getting to know Tom, Josh and the team and are impressed with the operational capability they have built," said Medibank Group Lead Digital and Ventures Rob Deeming.
In addition to its health insurance offering, Medibank delivers corporate health and wellbeing programs for businesses across Australia, most of whom have a corporate private health insurance package. This acquisition will see Medibank broaden its service offering, increase operational expertise and deepen its customer base.
“We are building an offering that transforms the way a company cares for its workforce, delivering healthier, more engaged employees. This acquisition of Pinnacle also reinforces Medibank’s approach to acquire and invest where we see an opportunity to accelerate our progress towards our 2030 vision,” Rob said.
The Pinnacle team, led by the founders, will continue to manage day-to-day operations as part of Medibank’s corporate health and wellbeing team. Pinnacle currently employs 29 health professionals and head office employees.
The acquisition is subject to conditions precedent.
