HBF’s expansion spree has rolled on apace this year, with the not-for-profit health insurer moving to acquire WA-based allied health outfit Life Ready Health Group.
HBF’s expansion spree has rolled on apace this year, with the not-for-profit health insurer moving to acquire Western Australia-based allied health outfit Life Ready Health Group.
Life Ready was founded in Yokine in 2011 and offers services through three different businesses, focusing on physiotherapy, rehabilitation, and early intervention.
It employs more than 400 people across 32 clinics in WA, Victoria, and Queensland.
As part of the acquisition, HBF has said it will provide Life Ready with enhanced corporate expertise to support the company during its next growth phase.
HBF chief executive John Van Der Wielen said physiotherapy was the insurer’s third most claimed ancillary benefit in the most recent financial year, having been accessed by about 160,000 of its members in that time.
“Life Ready represents an excellent strategic fit for HBF given its commitment to high quality, client-focused care, a significant presence where our members live nationally, and a strong track record of growth,” he said.
“In partnering with a not-for-profit organisation that is committed to looking after its more than 1 million members across Australia, we have the opportunity to achieve far more for the wellbeing of more people than we could have ever dreamed, and provide additional wellness offerings for our corporate clients,” he said.
Today’s news follows a spate of deals struck by HBF throughout 2021, including the acquisition of Brisbane-based CUA Health and a 10 per cent investment in ASX-listed dentistry outfit Pacific Smiles Group.
No dollar value has been attached to the Life Ready deal, which will be disclosed once the acquisition has been finalised.