The Zoo scan

Weekly roundup of the business of general practice

Thursday 17 September 2026

Three items from the week to 17 September. Two of the country's biggest health insurers pushed further into owned general practice. Bupa's purchase of the medical centre group Partnered Health has been notified to the ACCC, and Medibank's health arm lifted revenue almost 31% as it grew its owned primary care network to 169 clinics. And South Australia's revenue office has begun contacting GP clinics over their bulk-billing payroll tax exemptions.

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Migrations · GP and primary-care ownership and M&A
Bupa's purchase of Partnered Health reaches the ACCC Confirmed

Bupa's acquisition of Partnered Health, agreed in June, has been notified to the ACCC (case MN-50028) and is now in Phase 1 review, with public submissions open until 21 September. Partnered Health runs medical centres classed under general practice medical services, so this is the competition test of a health insurer buying a national primary care operator. Anyone with a view on insurer-owned general practice has until the 21st to put it to the regulator.

ACCC notification MN-50028, effective 11 September 2026, Phase 1; public submissions close 21 September 2026
Medibank lifts health revenue 31% and its GP network to 169 clinics Confirmed

Medibank's health services arm lifted revenue almost 31% to $634.8 million in FY26, including six months of Better Medical, which it bought during the year for more than $163 million. That took its owned network to 169 GP and medical clinics, and the insurer is targeting seven million GP consultations a year by FY28. A health fund is buying its way into general practice at scale.

FY26 health services revenue $634.8m; primary care network 169 clinics
The herd · market and workforce
GP practices on the market Confirmed

New South Wales

  • Sydney, a fully equipped medical centre with long lease terms. $200,000. BusinessForSale
  • Penrith, an accredited medical centre. $75,000. BusinessForSale

Victoria

  • Melbourne's north-west, a long-standing GP practice. $500,000. BusinessForSale

Queensland

South Australia

  • A long-established surgery with a retiring doctor and an established patient list. BusinessForSale
New practices past 2 weeks Confirmed
  • Winchelsea, VIC, Surf Coast Superclinic, a 100% bulk-billing general practice on Main Street, opened 15 September 2026. Practice website

The GP openings monitor carries the full index: 34 independent practices and 11 group-operator sites tracked since early August, with confirmed opening dates where practices publish them.

Habitat · policy and regulatory watch
South Australia's revenue office starts contacting GP clinics over payroll tax Confirmed

RevenueSA has begun contacting South Australian GP clinics it believes miscalculated the bulk-billing payroll tax exemption, and is auditing practices that stayed out of the amnesty. The exemption, running since July 2024, covers bulk-billed GP services by both contractors and employees, in proportion to the practice's bulk-billing rate. The RACGP says the approach is educational for now, with payment plans not upfront fines, but contractor and tenant-doctor structures are the ones under review.

RevenueSA compliance activity; partial exemption in place since July 2024
Fresh tracks · what we're watching
  1. Healthscope changes hands. A Calvary-led consortium won control of the collapsed private hospital operator Healthscope on 14 September, with Pacific Equity Partners' Healthe Care taking six of the 25 hospitals and lenders recovering about 40 cents in the dollar, and completion due by 30 November. For a practice owner it is a read on how a forced health-sector sale is priced. realestatesource, 14 September 2026
  2. Foreign investment conditions. Treasury's consultation on the conditions it attaches to foreign investment approvals closed on 15 September, tax conditions first, with no outcome published yet. Foreign investment approval is a gate any offshore buyer of an Australian practice must clear. Treasury, foreign investment review
  3. Pacific Equity Partners and the radiology giants. PEP's exclusivity over Perth Radiological Clinic stands, alongside its roughly $900 million Qscan process from July, with no further development this week, and imaging remains the nearest vertical where the multiples are set in public. AFR Street Talk, 9 September 2026
  4. Dental Boutique seeks a growth partner. The dental group Dental Boutique is reported to be seeking a growth partner at a valuation above $500 million, one more read on what the funds buying health verticals will pay. AFR Street Talk, 30 August 2026

Talk to the people who track this market

Own a practice and thinking about your exit, this year or in three? Write to kate.marie@mediusglobal.com.au, in confidence.

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