- Release of first commercially available mental health technology product
- Notable existing support from key Australian companies
- Provide organizations with cost savings by reducing mental health burden
SYDNEY, Australia and MINNEAPOLIS, April 30, 2018 (GLOBE NEWSWIRE) — Medibio Limited (MEB or the Company)(ASX:MEB)(OTCQB:MDBIF)
The Platform allows businesses to offer employees the chance to ‘check-in on their mental health’ through a comprehensive mental health and wellness program that starts with an employee-facing, Mental Health Check-In campaign. The app-based check-in tool is expected to be available in the Google Play and Apple App Store in the first two weeks of May 2018. The mobile app, named Medibio Inform, allows employees of participating businesses to assess their mental health using both traditional assessments and biometric measures.
Providing personal and confidential measures of mental health, the Platform is compatible with heart rate-enabled Fitbit and Garmin devices and soon will support Apple Watch. Businesses are provided with a dashboard of the results at an aggregate level, not tied to individual employees, displayed through data trends to help companies understand the overall mental health of their employee base. Sign-up and registration for the Platform is currently open with the app available in Australia, New Zealand and the US. The Corporate Health product pricing is subject to firm size and structure, but initially ranges between A$15 to A$45 per user.
“Mental illness can have a dramatic effect on a company’s productivity. For a company with a workforce of 100,000, the annual loss can exceed 3 million hours.1 The Platform represents a significant advancement in corporate mental health, allowing organizations to move beyond the current ad hoc and highly reactive offerings to a data-driven, evidence-based capability. The human and economic cost of mental health to organizations, and the well documented return on investment makes this one of the most exciting developments in corporate health for decades.” stated Peta Slocombe Senior VP of Corporate Health.
With historical participation from a variety of Australian firms, the results of the prior Check-In campaign demonstrated that a measurable and proactive approach to mental health is quickly becoming a priority for many organizations. Amongst them, number one ranked global technical and professional services company, Jacobs Engineering, participated as part of its own health and safety program, BeyondZero®, which supports the mental health and wellness needs of its employees worldwide.
Jack Cosentino, CEO and Managing Director stated, “For the first time, wearable technologies including Garmin and FitBit will be able to track and monitor individuals’ circadian heart rhythm (CHR), sleep cycles and activity, to round out an objective understanding of the onset and existence of mental dysfunction. We strongly feel that businesses are strategically positioned to assist individuals in recognizing the need for and accessing resources to treat and manage mental health conditions.”
Medibio’s Check-in is the first step in a comprehensive Corporate Health offering which includes products and services designed to help employers optimize performance, minimize risk, and better care for their most valuable asset – their people. More information on the Medibio Corporate Health program and Mental Health Check-in registration can be found at http://mentalhealthcheckin.com
- Creating a mentally healthy workplace. Return on investment analysis. PwC HeadsUp (March 2014)
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.
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