TRIVARX LIMITED ASX Market Update
Medibio Limited (ASX: MEB) 9 February 2016
- Rigorous evaluation of the suitability of wearables for Medibio's Corporate Stress Platform
- Evaluations to include; Apple Watch, Fitbit Surge, Samsung Gear S2, and the Jawbone UP3
- Growing trend of providers offering wearable devices as part of wellness programs
- Integration of wearables would allow Medibio to cost effectively scale global market coverage
- Evaluation underway with initial results expected in March 2016
Medibio Ltd (MEB or the Company) has partnered with Swinburne Software Innovation Lab (SSIL) to evaluate the best in class of the market-leading wrist-based wearable devices. SSIL has started a rigorous examination of the data quality and suitability of leading wrist-based wearable devices for potential integration and connectivity to Medibio's Digital Mental Health Platform (DMHP).
Globally there is an accelerating trend for health insurance, life insurance, wellness providers, and corporate workplaces to provide wearables for their members and employees as part of general wellness programs. If Medibio is able to integrate with those systems, it will be uniquely placed to provide its solution for Stress Assessment and cost effectively scale global market coverage of its Stress diagnostics.
The evaluation process is also a key prerequisite for the delivery of a Consumer Stress App to market. The first stage evaluation is expected to be completed in March 2016.
Over the past five years, the wearable movement has continued to gain momentum and has expanded to home and workplace use. The primary focus of wearable technology has been on developing comfortable, wrist-based wearable devices. These devices initially focused on counting steps; however, wrist-based devices are constantly improving to provide more insights and relevance to users.
One in 10 US adults now owns a fitness tracker, according to the latest results by NPD Group's Connected Intelligent Consumers and Wearables report. From 2015 to 2020, the revenue that wearable technology will gain is predicted to increase by 40 per cent as consumers adopt smaller wearable technologies that can provide the same apps.
Medibio aims to leverage the rapid technological advancements, expanding data collection and device usage to be part of the solution for the increasing challenge of Stress and Mental Illness in today's society.
Medibio currently uses medical grade data collection from a range of FDA approved devices to provide objective Mental Health and Stress diagnostics. SSIL is evaluating the market leading wrist-based wearable devices including the Apple Watch, Fitbit Surge, Samsung Gear S2 and the Jawbone UP3. SSIL has worked with a number of the major wearable manufacturers in prototype testing and in addition to being ideally placed to verify the necessary performance required in the wearables, Medibio will be able to leverage the SSIL's industry contacts.
The evaluation process will include a broad range of critical criteria to establish whether a device meets Medibio's requirements as a device capable of being used to deliver Medibio's Corporate Stress product and a Consumer Stress App.
-end-SSIL is part of the National Information and Communications Technology Research Centre of Excellence (NICTA). It pairs the NICTA's world-leading information and communications technology research capabilities with Swinburne's agile, industry-focused software development expertise, creating new economic opportunities for major Australian industries. The SSIL is a software research and development lab delivering high-impact software solutions and research to industry. The lab is in partnership with the National Information and Communications Technology Australia (NICTA), Australia's largest organisation dedicated to information and communications technology (ICT) research.
Medibio (ASX: MEB), is a medical technology company that has developed an objective test to assist in the diagnosis 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 patented (pending) circadian heart rate variability and cloud based proprietary algorithms to deliver a quantifiable measure to assist in a clinical diagnosis. Studies are currently being undertaken by Johns Hopkins University School of Medicine and Ottawa University, among others, to validate the clinical utility of the test. This will potentially enable Medibio's technology to be the first FDA approved, objective, evidence based approach to the diagnosis mental health disorders for the medical industry. The technology also provides an objective method for the assessment of stress and mental wellbeing which can be translated to the workplace stress/wellbeing market, wearable technology, and App market. Located in Sydney, NSW, Medibio is listed on the Australian Stock Exchange.
Further Information: Website: www.medibio.com.au | |
Medibio Shareholder Enquiries to: Kris Knauer CEO and Director Medibio Limited kris.knauer@medibio.com.au T: +61 (0)411 885979 | Medibio Media Enquiries to: Peter Taylor NWR Communications peter@nwrcommunications.com.au T: +61 (0)412 036 231 |
Medibio Limited issued this content on 08 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 February 2016 01:40:27 UTC
Original Document: http://www.medibio.com.au/images/news_pdf/2016/160209 Partnership to evaluate wearables (8 Feb 2016).pdf
