Certainly appears to be nervousness about the Medibank contract....

Certainly appears to be nervousness about the Medibank contract. Quite a similar scenario to the recent VTG contract renegotiations with supplier Telstra. Obviously different industry, but the fear of loss of revenue and earnings was overstated.
Let's remember KKT have a few levers to pull elsewhere with recent acquisitions, particularly with the prevalence of mental health issues (as discussed in the teleconference). The CEO also flagged more acquisitions were very likely soon - as he suggested to analysts not to treat acquisitions related expenses in recent periods as one-offs.