Takeover of ahm gets green light
By JODIE MINUS
Illawarra Mercury
Dec 3, 2008
MEDIBANK Private's takeover of Wollongong-based health insurer ahm is
almost complete after the majority of members voted to approve the
merger in a postal ballot that closed on Friday.
Just over 95 per cent of the 83,956 members who voted were in favour of demutualising the not-for-profit insurer, paving the way for the merger to take place at a general meeting held in Sydney yesterday.
United Services Union southern organiser Rudi Oppitz said it was a disappointing result but believed that in the existing economic climate, members had chosen "to take the cash".
The health insurer's 160,000 members will receive a financial entitlement from ahm's $367 million asking price, ranging from a minimum payment of $26 for new members with basic ambulance cover, to $8800 for members of at least 32 years with premium cover.
Mr Oppitz said he hoped Medibank Private would abide by its intentions for ahm to remain its own entity and marketplace competitor.
"As far as employment opportunities for employees and our members, we would hope that the overall number of employees that are employed at ahm continues to remain the same," Mr Oppitz said.
"There were indications that Medibank Private were intent on growing the number of employees by setting up a call centre and we hope that they continue to pursue that course as well."
But there are no guarantees, Mr Oppitz said.
"That's been one of the concerns that the union has had from day one, is that there has been no absolute guarantees that that would happen.
"The wording being used by ahm and Medibank Private all the way through this process is that it has been their 'intention' ... so it's certainly going to be interesting times ahead of us," he said.
Contact:
USU Support centre
1300 136 604
Top of Page
|
