Neither Telstra nor Medibank would disclose how much the deal was worth. However, as it was not announced to the Australia Securities Exchange, it likely is not a material amount.
Anywhere Health currently has six employees that will move to Telstra as part of the acquisition.
Following Medibank's $5.6 billion listing on the ASX, the health insurer undertook a review of its complimentary businesses and came to the conclusion to sell Anywhere Healthcare.
Private health insurance accounts for around 90 per cent of Medibank's business.
Telstra has been pushing into new areas in order to growth profits outside its core businesses such as mobile and fixed-line phones.
In October 2014, Telstra relaunched its e-health division under the name Telstra Health and has since undertaken a number of acquisitions and joint-ventures, including ReadyCare, a partnership with Swiss tele-medicine provider Medgate.
Last week, Telstra announced the acquisition of British health analytics firm Dr Foster, in a deal believed to be worth between $40 million to $50 million.
Telstra has spent more than $100 million on health-related acquisitions over the last 18 months.
In the six months to December, Telstra Health contributed $31.5 million in revenue.
Mr Ballantyne said Telstra will still work closely with Medibank to take advantage of providing services to the health insurers' customers.
Medibank chief operating officer David Koczkar said the company was proud of the foundation it built in the online healthcare business.
"Telstra Health will provide the additional support, focus, and expertise required to expand this important service and we look forward to working together to develop further opportunities for Anywhere Healthcare," he said.
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