SYDNEY, Australia and MINNEAPOLIS, July 05, 2017 (GLOBE NEWSWIRE) — Australian Stock Exchange listed medical technology company Medibio Limited (MEB or the Company) is pleased to announce the appointment of The Honourable Patrick J. Kennedy to the Board of Directors.
Patrick J. Kennedy is a former member of the U.S. House of Representatives (D-R.I.) and the nation’s leading political voice on mental illness, addiction, and other brain diseases. During his 16-year career representing Rhode Island in Congress, he fought a national battle to end medical and societal discrimination against these illnesses, highlighted by his lead sponsorship of the Mental Health Parity and Addiction Equity Act of 2008. As a chief sponsor of one of the major pieces of legislation of 2008, the Mental Health Parity Act, a bill requiring most group health plans to provide coverage for the treatment of mental illnesses that is comparable to what they provide for physical illnesses. Mr. Kennedy was also recently appointed to President Trump’s Commission on Combating Drug Addiction and the Opioid Crisis. His political career and his brave openness about his own health challenges provide unique expertise to Medibio.
“Medibio’s technology is truly groundbreaking, and has the potential to fundamentally change the mental health system for the better. That’s why I am proud to be part of this team,” said Kennedy. “This is a company that is truly on the cutting edge, and their diagnostic and analytic tools will give clinicians the power to treat patients more effectively, using better data, and with a focus on better outcomes.”
Medibio Managing Director and CEO, Jack Cosentino, said, “Patrick is a significant addition to the Medibio Board! His wealth of experience gained from serving in the U.S. Congress along with his advocacy for Mental Health will open doors and heighten awareness for Medibio’s technology. He has proved successful in tackling Mental Health as one of the greatest challenges in healthcare today. His knowledge, both through personal experience and legislative accomplishments, will help guide us in laying the strategic foundations for large-scale operations and the necessary payment and reimbursement coverage of our innovative, new technology. We welcome Patrick to the board of Medibio and value his leadership and passion to serve people with mental health conditions.”
Following his 8th term serving in the U.S. Congress, Kennedy has become a leading advocate for increased Mental Health & Addiction treatment coverage in the United States. He is a co-founder of One Mind for Research, which seeks to increase resources and collaboration in brain research and founder of the Kennedy Forum which advances a roadmap to transform mental health and addiction care.
Mr. Kennedy served three terms in the Rhode Island State legislature before he was elected as a Democratic member of the United States House of Representatives from 1995 to 2011. Kennedy served on the Armed Services Committee and the Appropriations committee, where he served on the subcommittee on Veterans Affairs and the Subcommittee on Labor, Health and Human Services, Education, and the NIH. While in Congress, he was a vocal advocate for healthcare reform and the chief sponsor of the 2008 Mental Health Parity and Addiction Equity Act.
Medibio Board Chair Chris Indermaur said, “Mr. Kennedy is a true win for Medibio. His vast experience and credentials both with the government as well as his current appointment serving on the White House commission will align well with the challenges affecting those struggling with addiction and mental illness. We are pleased to have him join our esteemed board.”
About Medibio Limited
Medibio (ASX:MEB) (OTCQB:MDBIF), headquartered in Melbourne, Australia, with US headquarters in Minneapolis, Minnesota, is an evidence-based medical technology company that has developed an objective test to assist in the diagnosis and management of depression, chronic stress and other mental health disorders. Based on research conducted over 15 years at the University of Western Australia, this test utilizes a panel of patented (and patent pending) circadian, sleep and autonomic system biomarkers to objectively quantify and characterize mental state. Medibio’s depression diagnostic is being validated in clinical studies undertaken by Johns Hopkins University School of Medicine and The University of Ottawa, among others. The clinical trials will support Medibio’s application to become the first FDA approved, objective, and evidence based approach to the diagnosis of mental health disorders. Medibio’s technology also provides an objective method for the assessment of stress and mental wellbeing that can be translated to the workplace stress/wellbeing market, wearable technology and App market. Medibio is listed on the Australian Securities Exchange and trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com and www.asx.com.au.
To learn more about Medibio visit www.Medibio.com.au.
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