Total
0
Shares
Image Sourced ShutterStock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Health-Tech company Medibio today announced a partnership agreement with digital wellness solution company, WellteQ
  • The agreement will see Medibio’s ilumen digital mental well-being assessment be integrated into WellteQ’s digital wellness platform
  • Helps employees take an active role in their mental well-being
  • The new platform will initially only be available in the Asia-Pacific region but the potential exists for additional geographical areas
  • Both companies are already working on the integration process and the combined platform is anticipated to be available by the end of 2019

Health-Tech company Medibio, today announced a partnership agreement with digital wellness solution company, WellteQ.

The agreement will see Medibio’s ilumen digital mental well-being assessment be integrated into WellteQ’s digital wellness platform. Both companies will retain intellectual property ownership of the platforms.

Medibio’s technology ilumen provides data-driven feedback to help employees take an active role in their own mental well-being. It helps understand the difference between a bad mood and a potentially serious health threat.

The will assess an employee’s well-being by asking questions such as how much sleep they are getting, the exercise they do (if any) and work hours, amongst much more.

Users will then get their results back and recommendations will be made such as coping strategies and a personal development plan.

“This partnership is a big step forward in achieving our commercialisation objective to integrate ilumen into organisations with global distribution channels,” Medibio CEO David B. Kaysen said.

WellteQ is a digital wellness solution for personalised health engagement and HR data analytics. It helps tackle problems such as sleep and activity challenges, mental and financial wellness, and virtual coaching for employees.

“Our current corporate portfolio has expressed a strong need for more objective mental well-being to be integrated into a holistic data-driven health solution,” WellteQ CEO Scott Montgomery said.

“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.”

Both companies have identified this new solution will offer a unique proposition and will enter the agreement to design, develop and implement a Minimum Viable Product (MVP).

The product will be initially issued to the rapidly expanding Asia-Pacific region however, the potential exists for additional geographical areas upon mutual agreement.

Medibio and WellteQ will collaborate on all marketing and promotional activities to promote the product to prospective clients.

Both companies are already working on the integration process and the combined platform is anticipated to be available by the end of 2019.

MEB by the numbers
More From The Market Herald
Zelira Therapeutics (ASX:ZLD) - CEO and MD, Dr Oludare Odumosu

" Zelira Therapeutics (ASX:ZLD) recieves funding from Quincy Street

Zelira Therapeutics (ZLD) has raised US$5 million (around A$6.69) from US family office fund, Quincy Street Capital.
Incannex Healthcare (ASX:IHL)

" Incannex Healthcare (ASX:IHL) engages Procaps to manufacture sleep apnoea treatment

Incannex Healthcare (IHL) has engaged a company to manufacture its soft-gel capsules in preparation for upcoming clinical trials.
(ASX:ATH) -

" Alterity Therapeutics (ASX:ATH) expands clinical development program

Alterity Therapeutics (ATH) is expanding the phase two clinical development program for its lead asset ATH434 in patients with Multiple System Atrophy (MSA).
Althea Group (ASX:AGH) - CEO, Joshua Fegan

" Althea Group (ASX:AGH) hits new high in sales receipts

Althea Group (AGH) brought in a new high of $4.5 million in customer receipts over the recently completed September quarter.