Before the 2010 election, Liberal leader Tony Abbott made the same pledge to privatise Medibank if it won government, but the party was again defeated by Labor.

On 26 March 2014, Abbott government Minister for Finance Mathias Cormann announced that Medibank would be sold through an initial public offering (IPO) in the 2014–2015 financial year.

[17] The sale was completed with 100% of the company sold, listing on the Australian Stock Exchange under the code MPL on 25 November 2014, with 440,000 individual owners with a market capitalisation of A$5.921 billion.

[citation needed] On 12 October 2022, Medibank CEO David Koczkar reported it had detected "unusual activity consistent with the precursors to a ransomware event" in their network but initially provided reassurance that no sensitive customer data has been accessed.

[20][21][22] In response to the attack, Medibank took their AHM and international student policy management systems offline and requested a trading halt on the ASX.

[21][22] Medibank later announced that a group of alleged hackers have made contact with the company to "negotiate", claiming to have stolen 200 gigabytes of customer data, while providing a sample of 100 customer policies including: "names, addresses, dates of birth, Medicare numbers, phone numbers, and medical claims data including information about diagnosis, procedures and location of medical services".

[29] In January 2009, Medibank acquired the Wollongong-based insurer ahm (Australian Health Management) and merged with the HSA Group in April 2009.

The telephone and online health management programs services provided by McKesson Asia-Pacific, including "healthdirect Australia", "Nurse-on-Call", and "Healthline", will be maintained by Medibank.

[31] APRA also publishes extensive statistics on the industry and annual financial statement for individual health funds to provide full transparency for stakeholders.