I'm in Biomed - as part of the biomed course, you have to do a unit of physics in 2nd semester.
If you haven't done VCE Physics, you must do "Physics for Biomedicine". This is only available to Biomedicine students.
If you have done VCE Physics, unless you performed exceptionally poorly, you must do "Physics 2: Life Sciences and Environment". This subject can also be accessed by Science students, most of whom will have done Physics 1 in Semester 1 (which is not available to Biomed students). For science students who have done Physics 1, there are various Physics 2 streams (one could intead of life sciences, do mechanical physics, or "advanced" physics). For biomed students, there are only the two options mentioned above.
The difference between the two subjects, I believe, is that the first (Physics for Biomed)assumes that you have done no Physics before, because there is no opportunity to do Physics 1 for Biomed students and they have not done 3/4. They attempt to start from scratch and move quite quickly through kinematics and motion (eg. momentum, constant accel equations, projectile motion etc. etc.) before covering the same areas of study in Physics 2: Life Sciences (which leaves out kinematics and does just thermal, fluids, electrostatics, circuits, magnetism and radiation). Obviously the latter covers each topic in more detail, having a stronger foundation and more time to work with, but essentially the same broad topics and broad ideas are covered.