Smartgroup Corporation Ltd (ASX:SIQ) Secures Monash Health Contract for Salary Packaging
Contract Details
Smartgroup Corporation Limited (ASX:SIQ) was selected by Monash Health through a competitive tender process. The initial agreement spans three years, extendable to five years, commencing on 1 April 2025.
Financial Impact
Smartgroup does not expect a meaningful earnings uplift from this contract in H1 2025.
Service Implementation
Smartgroup’s subsidiary, Smartsalary, will manage salary packaging and novated leasing services for approximately 25,000 Monash Health employees starting from the contract commencement date.
Executive Comments
Smartgroup Chief Executive Officer, Scott Wharton, stated, “This was a highly competitive process and we are privileged to have been selected as the provider of these important services to Monash Health. This appointment reflects our compelling proposition for healthcare employers and their employees, and our longstanding commitment to Victoria.”
Motley Fool contributor Aaron Shaw 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 positions in and has recommended Smartgroup. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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