Health: Corporate wellness stock Medibio’s latest partnership sends it up 24pc
Health & Biotech
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Medibio (ASX: MEB) has gained 24 per cent this morning after announcing an integration partnership with digital corporate wellness solution WellteQ.
Medibio’s “ilumen” digital mental well-being assessment will be integrated into WellteQ’s solution once the parties conceive a Minimum Viable Product. The companies have promised work would begin immediately and the platform would be available by the end of 2019.
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ilumen was first launched last October. It provides employees with access to personalised support and education services and monitors digital biometric changes. The latter function identifies how and when personal lifestyle modifications influence mental wellness.
It integrates with wearable devices including those by WellteQ.
“Our current corporate client portfolio has expressed a strong need for a more objective mental well-being to be integrated into a holistic data-driven health solution,” said WellteQ’s CEO Scott Montgomery.
“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.”
Medibio managing director David Kaysen told shareholders he was excited to finalise the partnership.
“This partnership is a big step forward in achieving our commercialisation objective to integrate ilumen into organisations with global distribution channels,” he said.
After retreating from an all-time high of 21.5 cents PainChek (ASX: PCK) has climbed back up to 19 cents this morning after its quarterly. The Morrison-government funded program, the catalyst for its spike in recent months, will commence next quarter and take place for a year. CEO Phillip Daffas declared PainChek “is becoming the new global gold standard for pain assessment in multiple healthcare market segments”. It has made over 40,000 assessments and is used in 140 aged care facilities.
Medtech company Hydrix (ASX: HYD) has also jumped after a positive quarterly – specifically 12 per cent. It made $14 million in revenue and its maiden operating profit of $430,000. Chairman Gavin Coote declared: “The company met or exceeded all market guidance milestones.”
Its goals for this year? Among them to exceed 15 per cent revenue growth and achieve a full year profit. Rather than build products in its own right it helps others manufacture and its clients include Bluechiip (ASX: BCT), Universal Biosensors (ASX: UBI) as well as Siemens.
Cancer-fighter Noxopharm (ASX: NOX) released its quarterly this morning and it used $3 million in cash. It has received a loan facility of up to $26 million and expects an R&D reimbursement of at least $3 million this quarter. Its main asset Vyonda will be tested in up to four clinical trials which are in the late stages of planning.