diff --git a/TESTS/mbed_platform/stats_heap/main.cpp b/TESTS/mbed_platform/stats_heap/main.cpp
index 2d7d6b27e90..837b2403626 100644
--- a/TESTS/mbed_platform/stats_heap/main.cpp
+++ b/TESTS/mbed_platform/stats_heap/main.cpp
@@ -66,11 +66,13 @@ void test_case_malloc_free_size()
         TEST_ASSERT_EQUAL_UINT32(stats_start.total_size + ALLOCATION_SIZE_DEFAULT * (i + 1), stats_current.total_size);
         TEST_ASSERT_EQUAL_UINT32(stats_start.alloc_cnt + 1, stats_current.alloc_cnt);
         TEST_ASSERT_EQUAL_UINT32(stats_start.alloc_fail_cnt, stats_current.alloc_fail_cnt);
-
+        // Library header 0x4-0x8, stats header 0x8 and alignment addition 0x4
+        TEST_ASSERT_INT_WITHIN(0x8, stats_start.overhead_size + 0xC , stats_current.overhead_size);
         // Free memory and assert back to starting size
         free(data);
         mbed_stats_heap_get(&stats_current);
         TEST_ASSERT_EQUAL_UINT32(stats_start.current_size, stats_current.current_size);
+        TEST_ASSERT_EQUAL_UINT32(stats_start.overhead_size, stats_current.overhead_size);
         TEST_ASSERT_EQUAL_UINT32(stats_start.alloc_cnt, stats_current.alloc_cnt);
         TEST_ASSERT_EQUAL_UINT32(stats_start.alloc_fail_cnt, stats_current.alloc_fail_cnt);
     }
@@ -93,10 +95,14 @@ void test_case_allocate_zero()
         TEST_ASSERT_EQUAL_UINT32(stats_start.current_size, stats_current.current_size);
         TEST_ASSERT_EQUAL_UINT32(stats_start.total_size, stats_current.total_size);
         TEST_ASSERT_EQUAL_UINT32(stats_start.alloc_fail_cnt, stats_current.alloc_fail_cnt);
-
+        // Library header 0x4-0x8, stats header 0x8 and alignment addition 0x4
+        if (NULL != data) {
+            TEST_ASSERT_INT_WITHIN(0x8, stats_start.overhead_size + 0xC , stats_current.overhead_size);
+        }
         // Free memory and assert back to starting size
         free(data);
         mbed_stats_heap_get(&stats_current);
+        TEST_ASSERT_EQUAL_UINT32(stats_start.overhead_size, stats_current.overhead_size);
         TEST_ASSERT_EQUAL_UINT32(stats_start.current_size, stats_current.current_size);
         TEST_ASSERT_EQUAL_UINT32(stats_start.alloc_cnt, stats_current.alloc_cnt);
         TEST_ASSERT_EQUAL_UINT32(stats_start.alloc_fail_cnt, stats_current.alloc_fail_cnt);
@@ -121,6 +127,7 @@ void test_case_allocate_fail()
         TEST_ASSERT_EQUAL_UINT32(stats_start.total_size, stats_current.total_size);
         TEST_ASSERT_EQUAL_UINT32(stats_start.alloc_cnt, stats_current.alloc_cnt);
         TEST_ASSERT_EQUAL_UINT32(stats_start.alloc_fail_cnt + i + 1, stats_current.alloc_fail_cnt);
+        TEST_ASSERT_EQUAL_UINT32(stats_start.overhead_size, stats_current.overhead_size);
     }
 }
 
diff --git a/platform/mbed_alloc_wrappers.cpp b/platform/mbed_alloc_wrappers.cpp
index 00e2dd2e75d..3b4caf077a8 100644
--- a/platform/mbed_alloc_wrappers.cpp
+++ b/platform/mbed_alloc_wrappers.cpp
@@ -48,7 +48,15 @@ typedef struct {
 
 #ifdef MBED_HEAP_STATS_ENABLED
 static SingletonPtr<PlatformMutex> malloc_stats_mutex;
-static mbed_stats_heap_t heap_stats = {0, 0, 0, 0, 0};
+static mbed_stats_heap_t heap_stats = {0, 0, 0, 0, 0, 0, 0};
+
+typedef struct  {
+    size_t size;
+}mbed_heap_overhead_t;
+
+#define MALLOC_HEADER_SIZE          (sizeof(mbed_heap_overhead_t))
+#define MALLOC_HEADER_PTR(p)        (mbed_heap_overhead_t *)((char *)(p) - MALLOC_HEADER_SIZE)
+#define MALLOC_HEAP_TOTAL_SIZE(p)   (((p)->size) & (~0x1))
 #endif
 
 void mbed_stats_heap_get(mbed_stats_heap_t *stats)
@@ -71,7 +79,6 @@ void mbed_stats_heap_get(mbed_stats_heap_t *stats)
 
 #if defined(TOOLCHAIN_GCC)
 
-
 extern "C" {
     void *__real__malloc_r(struct _reent *r, size_t size);
     void *__real__memalign_r(struct _reent *r, size_t alignment, size_t bytes);
@@ -106,6 +113,7 @@ extern "C" void *malloc_wrapper(struct _reent *r, size_t size, void *caller)
         if (heap_stats.current_size > heap_stats.max_size) {
             heap_stats.max_size = heap_stats.current_size;
         }
+        heap_stats.overhead_size += MALLOC_HEAP_TOTAL_SIZE(MALLOC_HEADER_PTR(alloc_info)) - size;
     } else {
         heap_stats.alloc_fail_cnt += 1;
     }
@@ -178,10 +186,14 @@ extern "C" void free_wrapper(struct _reent *r, void *ptr, void *caller)
     alloc_info_t *alloc_info = NULL;
     if (ptr != NULL) {
         alloc_info = ((alloc_info_t *)ptr) - 1;
-        heap_stats.current_size -= alloc_info->size;
+        size_t user_size = alloc_info->size;
+        size_t alloc_size = MALLOC_HEAP_TOTAL_SIZE(MALLOC_HEADER_PTR(alloc_info));
+        heap_stats.current_size -= user_size;
         heap_stats.alloc_cnt -= 1;
+        heap_stats.overhead_size -= (alloc_size - user_size);
     }
     __real__free_r(r, (void *)alloc_info);
+
     malloc_stats_mutex->unlock();
 #else // #ifdef MBED_HEAP_STATS_ENABLED
     __real__free_r(r, ptr);
@@ -260,7 +272,6 @@ extern "C" {
     void free_wrapper(void *ptr, void *caller);
 }
 
-
 extern "C" void *SUB_MALLOC(size_t size)
 {
     return malloc_wrapper(size, MBED_CALLER_ADDR());
@@ -284,6 +295,7 @@ extern "C" void *malloc_wrapper(size_t size, void *caller)
         if (heap_stats.current_size > heap_stats.max_size) {
             heap_stats.max_size = heap_stats.current_size;
         }
+        heap_stats.overhead_size += MALLOC_HEAP_TOTAL_SIZE(MALLOC_HEADER_PTR(alloc_info)) - size;
     } else {
         heap_stats.alloc_fail_cnt += 1;
     }
@@ -322,7 +334,7 @@ extern "C" void *SUB_REALLOC(void *ptr, size_t size)
 
     // If the new buffer has been allocated copy the data to it
     // and free the old buffer
-    if (new_ptr != NULL) {
+    if ((new_ptr != NULL) && (ptr != NULL)) {
         uint32_t copy_size = (old_size < size) ? old_size : size;
         memcpy(new_ptr, (void *)ptr, copy_size);
         free(ptr);
@@ -374,10 +386,14 @@ extern "C" void free_wrapper(void *ptr, void *caller)
     alloc_info_t *alloc_info = NULL;
     if (ptr != NULL) {
         alloc_info = ((alloc_info_t *)ptr) - 1;
-        heap_stats.current_size -= alloc_info->size;
+        size_t user_size = alloc_info->size;
+        size_t alloc_size = MALLOC_HEAP_TOTAL_SIZE(MALLOC_HEADER_PTR(alloc_info));
+        heap_stats.current_size -= user_size;
         heap_stats.alloc_cnt -= 1;
+        heap_stats.overhead_size -= (alloc_size - user_size);
     }
     SUPER_FREE((void *)alloc_info);
+
     malloc_stats_mutex->unlock();
 #else // #ifdef MBED_HEAP_STATS_ENABLED
     SUPER_FREE(ptr);
diff --git a/platform/mbed_stats.h b/platform/mbed_stats.h
index 4532041379c..415be895c21 100644
--- a/platform/mbed_stats.h
+++ b/platform/mbed_stats.h
@@ -48,6 +48,7 @@ typedef struct {
     uint32_t reserved_size;     /**< Current number of bytes allocated for the heap. */
     uint32_t alloc_cnt;         /**< Current number of allocations. */
     uint32_t alloc_fail_cnt;    /**< Number of failed allocations. */
+    uint32_t overhead_size;     /**< Overhead added to heap for stats. */
 } mbed_stats_heap_t;
 
 /**