CANBERRA, Australia, Aug. 17 (UPI) -- The Australian government says it may sell Medibank Private, the nation's biggest health insurer, for as much as $760 million.
Medibank, based in Melbourne, covers about 3 million people, almost 1-in-3 privately insured Australians, the New Zealand Herald reported Wednesday.
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It is reportedly worth as much as $760 million.
The decision to consider a sale comes after Medibank turned to profit after a loss in 2002 and as the government in July became the first in 24 years to control both houses of Parliament.