APAC’s most progressive wellness engagement and analytics platform partners with pioneering mental health technology company Medibio (ASX: MEB) (OTCQB: MDBIF).
- wellteq and Medibio will work together to implement a unique digital solution incorporating Medibio’s mental well-being assessment into wellteq’s personalised and holistic wellness platform.
- The initial geography will be specific to the rapidly growing APAC region.
- wellteq and Medibio will maintain ownership of all intellectual property in their respective platforms.
Under the partnership agreement, the parties will create an integrated solution by incorporating Medibio’s ilumenTM digital mental well-being assessment into wellteq’s digital wellness platform. Medibio and wellteq have identified that the integrated solution will offer a unique value proposition and enter into this partnership agreement to design, develop and implement a Minimum Viable Product (MVP). Teams will begin work immediately on the integration in anticipation of the platform being available by the end of 2019.
The initial geography will be specific to the rapidly growing APAC Region with potential for additional geographical areas upon mutual agreement. Medibio and wellteq will collaborate on all marketing and promotional activities to promote the integrated solution to prospective clients within this geography. Both parties will maintain Intellectual Property ownership in their respective platforms, including any modifications or improvements realized through the work of this partnership agreement.
What Does This Mean For Employees?
For employers this collaboration brings a new approach to employee mental wellness programs leveraged by technology:
- An objective approach to mental health that looks at biometrics for early detection and screening of mental health conditions all from a mobile phone, linking physiological measures and mental health in sleeping patterns.
- Meaningful outcomes integrated with ongoing programs to improve the quality of life for millions suffering from a mental wellbeing issue, from depression to stress.
- Accelerated speed of diagnosis of mental illness to ensure the employee’s workload and role is correctly managed to minimise unplanned sick leave.
Scott Montgomery, CEO of wellteq, said:
“It’s great to see the enthusiasm of both teams as we finalize this partnership agreement. Our current corporate client portfolio has expressed a strong need for more objective mental well-being to be integrated into a holistic data-driven health solution. This extensive capability is unique promising high growth potential, we are extremely excited to work with Medibio to bring mental well-being to employees and insurance policy holders across APAC.”
David B. Kaysen, Chairman, Managing Director and CEO of Medibio, said:
“We are excited to finalize this partnership agreement with wellteq, a leader in employee health solutions. Both companies are in complete alignment on the significant need for a robust employee health solution that integrates mental well-being. This partnership is a big step forward in achieving our commercialisation objective to integrate ilumenTM into organisations with global distribution channels.”
Who Are Medibio?
Medibio (ASX: MEB) (OTCQB: MDBIF) is a health technology company pioneering the use of objective measures to aid in the early detection and screening of mental health conditions. Through their corporate health product, the company offers mental well-being solutions for businesses and are also developing products to serve the healthcare provider market.
The company was founded in Australia, with offices located in Melbourne (Vic) and U.S. offices in Minneapolis, MN. Medibio is listed on the Australian Securities Exchange Ltd and trades on the OTCQB Venture Market.
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