Health technology company MediBio (ASX: MEB) has completed the first of four planned pilot programs using its ilumen corporate health and wellbeing product, with the assistance of employees from UK-based food service company Compass Group.
Under the terms of a commercial agreement signed in July, Medibio offered ilumen on a voluntary basis to employees of Compass’ Business & Industry division for the pilot commencing mid-August.
Participants were provided with access to a mobile and web application for early screening of mental health symptoms such as depression, anxiety and stress.
Biometric data and subjective assessments provided a wellbeing snapshot, which was used by individuals to monitor and make improvements over time.
The de-identified aggregate data was presented to Compass to help better support and manage the mental wellbeing of its workforce.
Medibio said a voluntary engagement rate of 65.3% was achieved during the four-week program.
The company said it would continue to work with Compass on a further two pilot programs beginning later this month, and a fourth pilot in January.
Also in July, Medibio inked its second pilot program deal with Compass, engaging employees in its UK Offshore and Remote division.
At the end of July, a third pilot was agreed with Compass Group Australia involving up to 300 employees and at the end of August, the fourth and final pilot program was agreed with Compass’ Defence division in the UK.
At the time of signing, Medibio senior vice-president of corporate health Jennifer Solitario reflected on the ongoing relationship with Compass, which brings in annual revenues of $43.6 billion and employs 600,000 people across 45 countries of operation.
“The signing of this fourth pilot agreement demonstrates the importance of this initiative to Compass Group,” she said.
“We are pleased to partner with Compass in this continuing relationship and support the company in its effort to improve the mental well-being of its workforce.”
Call to action
According to research from the Black Dog Institute, mental health conditions cost Australian businesses up to $12 billion each year through staff absences and sick days, reduced work performance, increased turnover rates and compensation claims.
Medibio believes there is currently a “tremendous call to action” for corporations to provide employees with programs to evaluate, address and improve their overall wellbeing.
The company said ilumen is unique to the corporate health market as it integrates proprietary objective biometrics with subjective assessments.
Users can access and monitor personal mental wellbeing data from their devices, measuring and tracking biometrics over a period of time through the use of wearable technology.
At mid-afternoon, shares in Medibio were up 9.09% to $0.012.