MHS are most likely negotiating a more affordable deal with...

MHS are most likely negotiating a more affordable deal with Konekt. MHS haven't made much profit from their ADF contract (where Konekt is involved).

MHS's contract with ADF also expired in October last year. I can't find any guidance on whether MHS retained that contract.

Regardless, I'm holding KKT until further news comes. This is partially due to the illiquidity of the stock but also because KKT hits the sweet spot for me as an investment. It's a profitable microcap (not common on the ASX), it has a vision for expansion and has had a great track record on past growth and acquisitions.

https://ama.com.au/ausmed/medibank-struggles-make-buck-out-defence-deal