- Medibio (MEB) has signed a three-year licence and services agreement with Compass Group for its mental health product, ilumen
- Compass provides contract food and support services for a range of companies and clients around the world
- ilumen assesses and monitors an employee’s mental wellbeing, helping them learn new ways to manage stress and achieve a work-life balance
- Medibio will receive an annual licence fee from each Compass company and client that implements its ilumen product
- Company shares are trading flat at 1.4 cents
Medibio (MEB) has signed a three-year global master licence and services agreement with Compass Group for Medibio’s mental health product, ilumen.
Compass is a multinational corporation that provides contract food and related support services for a range of industries including business, defence, education, healthcare, and sports and leisure.
Medibio will make ilumen available to Compass companies which want to utilise the technology to their employees’ benefit. These companies will also have the right to license ilumen to their clients.
In return, Medibio will receive an annual licence fee from each Compass company and client which implements the ilumen product.
The fee will be calculated based on the number of employees and be charged annually based on the size of the workforce of each enrolled company, regardless of how many employees participate.
ilumen is a corporate wellness product that allows employees to access and monitor biometric data about their mental wellness from their personal devices. Users can then learn about coping strategies, resources, and personal development plans to better manage stress and achieve a work-life balance.
“The World Health Organisation has noted that mental health is a major issue in the workplace and that there are many effective actions that employers can take to support workers. However, a major challenge for employers when it comes to mental health is measuring the impact of corporate wellness programs,” Compass Global Safety and Sustainability Director Federico Tonetti said.
Compass has conducted four pilot programs using ilumen after searching for a suitable mental health tool to provide to its employees.
“We are delighted to have a global leader like Compass as a partner for ilumen. Given their global reach, and the number, size and calibre of the companies they service, this program represents a significant development in the advancement of ilumen,” Medibio Senior Vice President of Corporate Health Jennifer Solitario said.
Company shares are trading flat at 1.4 cents at 11:25 am AEDT.