Medibank suffers cyberattack, Telix Pharma expands GE Healthcare partnership and APA Group to acquire Basslink
Medibank Private was among the latest large cap companies to suffer a cyber security incident.
Health insurance provider Medibank Private’s (ASX: MPL) shares are down this week after the company revealed it suffered a major cyber security incident.
Despite the concern, the provider urged there was no evidence of customers’ data being accessed and has since returned to business as usual.
Medibank has a large database, covering more than 3.7 million people and boasting around 4,000 employees.
The cyberattack was first detected by the Medibank Wednesday last week, which saw the company take parts of the system offline in order to prevent potential data loss.
Medibank chief executive officer David Koczkar issued an apology to its customers, ensuring everything is now back to normal.
“I apologise and acknowledge that in the current environment this news may make people concerned,” he said.
“Our highest priority is resolving this matter as transparently and quickly as possible.”
The investigation continues, with Medibank calling on external cybersecurity experts and the Australian Government’s lead cyber agency to help understand why the breach occurred.
Telix Pharmaceuticals
Telix Pharmaceuticals’ (ASX: TLX) has expanded its partnership with GE Healthcare, through a deal to supply its investigational positron emission tomography (PET) imaging radiotracers.
Telix will supply PET imaging radiotracers TLX250-CDx and FLac for use in third party clinical research and development activities.
GE Healthcare will manage the direct marketing and sales of Telix’s imaging agents to various pharmaceutical companies.
Telix senior vice president of Global Business Development and Alliance Management Jonathan Barlow said it will offer greater exposure for the company’s imaging agents.
“This partnership will see our investigational imaging agents used more widely in third-party clinical trials,” he said.
“Excitingly, it will also help to expedite the development of FLac, while expanding the utility of our TLX250-CDx imaging candidate.”
Telix’s share price also rose around 19% to start the week, after it released promising preliminary data from two different studies of TLX250-CDx in triple negative breast cancer and non-muscle-invasive bladder cancer.
Westpac + Tyro Payments
Major Australian bank Westpac Bank (ASX: WBC) is in talks to acquire fintech Tryo Payments (ASX: TYR).
The bank confirmed the news on Tuesday, with media reports it is hiring global leader JP Morgan to help run the numbers on the deal.
While talks are still in its early stages, Westpac said a potential acquisition would “strengthen small business proposition, enabling it to better support customers and grow merchant acquiring, particularly in the hospitality and healthcare sectors.”
Meanwhile, Tyro confirmed there are several interested parties and there is no definite acquisition in place at this stage.
Tyro is the one of the nation’s leading providers of payment services, with more than 63,000 merchant customers using its eftpos terminals to accept payments on debit and credit cards, or for Medicare or private health fund claims.
Through acquiring Tyro, Westpac aims to shoulder into the competitive hospitality and healthcare domains, where other banks Commonwealth Bank (ASX: CBA) and National Australia Bank (ASX: NAB) currently dominate.
Woodside
Woodside Energy (ASX: WDS) has awarded Oslo-based Nel ASA’s subsidiary Nel Hydrogen Electrolyser a NOK600 million (A$90 million) contract to supply alkaline hydrolysers for its proposed H20K hydrogen project in Ardmore, Oklahoma.
Woodside executive vice president Shaun Gregory said the contract would offer a significant growth opportunity within the US for the company.
“The signing of the alkaline electrolyser contract is progress towards Woodside realising its ambition to build a new energy business in the United States,” he said.
“With the passage of the Inflation Reduction Act, the drive to accelerate the energy transition in the US is under way, and Woodside aims to be part of that.”
Woodside plans to produce liquid hydrogen from its Oklahoma project for use in long-haul vehicles, with the contract contributing towards supporting phase one.
Nel ASA chief executive officer Håkon Volldal said the opportunity was exciting for the Oslo-based company.
“We are extremely proud to be elected by Woodside, a quality company with a strong track record of developing high-quality assets, for this exciting and meaningful project,” he said.
APA Group
APA Group (ASX: APA) has agreed to acquire Basslink in a deal estimated to be worth $773 million to expand its energy transmission footprint and play a leading role in the energy transition.
Basslink owns a 370km high-voltage, direct-current electricity inter-connector which goes through Victoria and Tasmania, helping Tasmania participate in the national electricity market.
APA said the deal would help build on its energy infrastructure business and invest in renewable energy sources.
The group already owns or manages a $21 billion worth of gas, electricity, solar and wind assets.
Proceeds from the deal would be used to repay Basslink creditors, which includes APA’s senior secured debt of $648 million.
APA has been trying to secure Basslink for some time now, with the deal set to end an 18-month pursuit of the company.