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Medibank (ASX:MPL) share price lifts as staff vaccine mandate hits headlines

Here’s the latest news from Medibank Private.
The post Medibank (ASX:MPL) share price lifts as staff vaccine mandate hits headlines appeared first on The Motley Fool Australia. –

The Medibank Private Ltd (ASX: MPL) share price is in the green today amid news the company will soon require nearly all its staff to be vaccinated against COVID-19.

Previously, only Medibank’s front-line employees had to be vaccinated against COVID-19.

Medibank released the potentially divisive announcement yesterday and many media outlets reported on the changes after the ASX closed.

At the time of writing, the Medibank share price is $3.55, 0.85% higher than its previous close.

That’s relatively in line with the broader market’s performance this morning. Right now, the S&P/ASX 200 Index (ASX: XJO) has gained 0.2%. Meanwhile, the All Ordinaries Index (ASX: XAO) is up 0.3%.

Let’s take a closer look at the latest news from Medibank.

Medibank extends employee vaccine mandate

The Medibank share price is gaining today amid headlines most of its staff are facing vaccination deadlines.

It follows fellow ASX-listed companies Crown Resorts Ltd (ASX: CWN) and Qantas Airways Limited‘s (ASX: QAN) decisions to do the same. Qantas declared all its staff must have a COVID-19 vaccination in August, while Crown mandated vaccination for employees last month.

Employees working in Medibank’s retail or offices will soon need to be at least partially inoculated against COVID-19 to attend their workplaces or work events.

Those working in Medibank’s retail segment must have had 2 doses of a COVID-19 vaccine by 15 December. All other employees face a deadline of 31 January 2022.  

Additionally, its executive leadership team and board of directors will be fully inoculated against COVID-19 by mid-October.

Employees who work completely from home are exempt from the mandate, as are those who can’t get vaccinated for medical reasons.

Previously, Medibank required its frontline health workers to have at least one jab by 1 November, while those working in residential aged care had to have had their first dose by mid-September.

Commentary from management

Medibank’s CEO David Koczka commented on the company’s new vaccine mandate, saying:

As a company with more than 1,400 health professionals and a broader team focused on health and wellbeing each day, there is widespread understanding of the benefits of COVID vaccination across our business…

We’ve made this decision to help keep our people and customers safe and to support the immense effort of the nation’s healthcare workers.

Medibank share price snapshot

The Medibank share price has been performing well on the ASX lately.

It has gained 16.6% since the start of 2021. It is also 36.8% higher than it was this time last year.

The post Medibank (ASX:MPL) share price lifts as staff vaccine mandate hits headlines appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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