SYDNEY, Australia and MINNEAPOLIS, May 08, 2018 (GLOBE NEWSWIRE) -- Medibio Limited (MEB or the Company) (ASX:MEB) (OTCQB:MDBIF), a mental health technology company, today announced the execution of a commercial contract with St. John of God Health Care (SJGHC) to deploy Medibio’s new product for its newly established Corporate Health division.
The agreement includes the deployment of Medibio’s solution for corporate health to St. John of God’s 14,500 employees across Australia. The contract also includes the option of additional mental healthcare services provided by Medibio for employees needing additional help.
The program provides St. John of God employee participants access to Medibio’s Mental Health Check-in campaign. Anticipated revenue is $58,000 for an initial 4-week program. The Mental Health Check-in is the entry level offering in Medibio’s ongoing subscription based Corporate Health product. Additional mental healthcare services will be billed as services are provided.
“St John of God Health Care is delighted to be part of the Mental Health Check-in. The product aligns strongly with our commitment to employee wellbeing, as well as our position as leaders in digital healthcare. Personally, and professionally I have had a long held commitment to the area of mental health, so we look forward to continuing the partnership with Medibio in this critical area,” said John Fogarty, CEO and Executive Director of Western Australia Hospitals.
The announcement of SJGHC as the first healthcare contract in Medibio’s new corporate health offering cements them as thought leaders in digital healthcare. "We are delighted to extend our previous partnership with such a values driven organization,” said Peta Slocombe, SVP of Medibo Corporate Health.
St John of God Health Care is the largest Catholic sector hospital services provider and the third largest non-Government hospital operator in Australia. It was established by the Sisters of St John of God in 1898 and has 23 divisions, including 17 hospitals, with more than 3,350 beds. In 2016-17, it treated more than 350,000 overnight and same day patients and delivered more than 12,500 babies. St John of God Health Care has grown significantly and is now the 20th largest private company in Australia, employing more than 14,500 caregivers.
With the potential to deliver a 2x to 3x return on investment, Medibio’s corporate mental health platform creates a unique opportunity for companies to actively engage around mental health and reduce the burden of mental health conditions on individuals and organizations. Underpinned by Medibio’s platform, the contract incorporates a check-in component encompassing both biometric screening in conjunction with a 12-minute subjective survey in addition to a complete employee assistance plan offering providing unique insights into individual and organizational mental health.
Jack Cosentino, CEO and Managing Director concluded, “Providing an avenue for individuals and organizations to address the ever-growing burden from mental health places Medibio in a unique position. Having established the first biometric based mental health screening application alongside a proprietary subjective survey, enables our corporate clients to better understand their workforce and ensure that individuals are able to address their mental health proactively.”
About Medibio Limited
Medibio (ASX:MEB) (OTCQB:MDBIF) is a mental health technology company that has pioneered the use of objective biometrics to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions. The company offers mental health solutions for business through its Corporate Health programs and is developing products to serve both the consumer and regulated healthcare provider markets. The company was founded in Australia, with offices located in Melbourne (Vic), Perth (WA), and U.S. offices in Minneapolis, MN. Medibio is listed on the Australian Securities Exchange Ltd and trades on the OTCQB Venture Market. Investors can find additional information on www.otcmarkets.com and www.asx.com.au.
| Further Information: | Website: www.medibio.com.au |
| Medibio Shareholder Enquiries: Stephanie Ottens Investor Relations Director Medibio Limited stephanie.ottens@medibio.com.au T: +61 434 405 400 | Australian Media Enquiries: Peter Taylor NWR Communications peter@nwrcommunications.com.au T: +61 (0) 412 036 231 |