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Private Health Insurance News

Its chief executive, Terry Smith, said its non-profit model had played a big role in its growth but played down speculation it might seek to list on the Australian Stock Exchange.

”We can focus on improving benefits, and offering better products at more reasonable prices, rather than creating wealth for shareholders,” Mr Smith said in a statement yesterday.

HCF, which ranks in the market behind Medibank Private and a merged BUPA and MBF, paid $256 million for Manchester Unity.

HCF’s membership numbers rose 20 per cent, to 1.3 million, and included 187,000 new Manchester Unity members. Mr Smith said net new membership growth was 3.8 per cent, compared with an industry average of 2.2 per cent.



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