no other articles link to it . please introduce links to this page from related articles ; try the find link tool for suggestions . october 2015 gmhba limited type non profit organisation industry private health insurance founded 1934 headquarters geelong australia key people mark valena ceo website gmhba health insurance gmhba limited is a not for profit 100 % member based private health insurer based in geelong victoria australia . today gmhba has over 92 000 members and provides health cover for around 200 000 australians . contents 1 history 2 nib takeover bid 3 branches 4 financials 5 references 6 external links history edit gmhba has roots in the cement workers hospital benefits scheme established in 1927 by workers at the cement works at fyansford on the outskirts of geelong . by 1928 a number of similar schemes had been started for employees of other local industrial organisations . asn open health fund was officially launched and opened to the public by the mayor of geelong victoria on 13 august 1934 . the name geelong medical and hospital benefits association gmhba was adopted in 1958 . 1 in october 2009 gmhba launched a second brand called frank health insurance . frank was developed to provide a simple private health insurance offering at low cost . nib takeover bid edit in october 2010 newcastle new south wales based health fund nib made a 140 million takeover offer to gmhba members . the company went public with the offer after the gmhba board rejected their initial offer and refused to enter into discussions . nib was australia s first health fund to demutualise listing on the stock exchange in 2007 . 2 the takeover would give members an average of 1500 tax free with some receiving as much as 6500 . 3 nib chief mark fitzgibbon admitted that his company s 4 million sponsorship of the geelong football club and the lorne pier to pub swimming race was part of a long term strategy to win support of geelong locals . he also said that he intended to recruit a number of local celebrities including gfc president frank costa and sports broadcaster billy brownless to pressure gmhba directors into calling a vote . 3 gmhba chief ken jarvis criticised the actions of nib saying his company makes a 15 million a year contribution to the geelong economy and supported local charities . 3 the initial 140 million offer was later increased to 161 million and then to 180 million before it was withdrawn by nib in december 2010 after the gmhba board still refused to consider the offer . 4 branches edit victoria ballarat until 12pm 9 august 2016 62 bridge mall . new branch opening 13 august 2016 208 sturt street belmont 178 high street bendigo shop 11a fountain court mitchell street colac 178 murray street geelong 60 68 moorabool street hamilton 182 gray street norlane bellpost shopping centre anakie road newcomb bellarine village bellarine highway portland 112a percy street warrnambool 114 lava street financials edit 2008 2009 annual report data membership increase 10.9 % contribution income increased to 191.3 m underwriting surplus of 23.1 m total operating surplus of 7.96 m gmhba paid 168.2 m in claims in 2008 09 references edit gmhba health insurance . gmhba s history . gmhba.com.au . retrieved 2010 10 12 . nib reveals 140 million takeover bid . abc news australian broadcasting corporation . www.abc.net.au . 7 october 2010 . retrieved 2010 10 12 . a b c geoff easdown 8 october 2010 . frank costa at centre of storm over support for nib . herald sun . www.heraldsun.com.au . retrieved 2010 10 12 . teresa ooi 9 december 2010 . nib withdraws 180m takeover bid . the australian . www.theaustralian.com.au . retrieved 2010 12 29 . external links edit gmhba health insurance frank health insurance private health the australian federal government s private health insurance web site private health insurance ombudsman retrieved from https en.wikipedia.org w index.php title gmhba limited & oldid 733461940 categories insurance companies of australiahealthcare in australiahidden categories orphaned articles from october 2015all orphaned articlesuse dmy dates from august 2011use australian english from august 2011all wikipedia articles written in australian english navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 7 august 2016 at 23 55 . text is available under the creative commons attribution sharealike license ; 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