Medibio (ASX: MEB) Introduces Corporate Health Product Named “Ilumen”

  • Oct 09, 2018 AEDT
  • Team Kalkine
Medibio (ASX: MEB) Introduces Corporate Health Product Named “Ilumen”

Medibio Limited (ASX: MEB) from healthcare industry announces to introduce its new product “ilumen” for corporate customers which has a capability to offer biometric analysis and objective, provide data-driven feedback as well assess mental wellness for their employees. Employees can monitor and access their data from personal devices as well. Through the use of wearable technology over the period of time, the employees can measure and track their biometric easily and can learn proactively about how to copy strategies, the resources, and personal development plans in order to manage stress and strain in a better way from life and work.

Ilumen provides better clinical decisions and helps employees by making it able to access personalized resources to support and educate in order to improve mental wellness. It has an ability to monitor digital biometric changes and identifies how and when personal lifestyle modification influences mental wellness. Moreover, it improves biometrics integration underpin by Fitbit and Garmin as wearable devices.

As of now, many companies have health care plans to address physical health. For that matter, Ilumen device helps the employer in getting access to its employee’s well-being without being actually connecting to its employee’s identity. They can get an aggregate level dashboard to improve the team performance, informed decision making.

At the premier event of the year for small and medium-sized enterprises, Medibio got selected as a finalist in the Health Service Business of the year category for the year 2018. 

MEB and its units have made a huge loss in FY18 worth $16,432,656 as compared to $9,785,072 in FY17. The reasons of the net loss after paying all taxes includes submission of U.S. FDA De novo application, FDA clinical studies completion , achieving CE mark certification , and clearance from  CE mark certification and ISO 13485, approval for Therapeutic goods administration, acquisition of vital conversation, expansion of patent portfolio, publishing of scientific paper, organizing scientific advisory board, launch of product for corporate health business and secured customer contracts, entering agreement with Otsuka Pharmaceutical and building world-class technology , medical and commercialization of team. The balance sheet of the company is strong as the company has its total asset $ 19,064,238 much above its total liabilities $5,077,750, showing the company’s ability pay its long-term obligation. The Company is also capable of paying its short-term liabilities as the company’s total current asset is also greater than its current liabilities. As of June 30, 2018, the company holds its cash and cash equivalent of $6,123,187. The company’s total shareholder equity stood at $ 13,986,488 despite the accumulated loss of $73,912,262.

While seeing the stock performance of the company, the one-year report shows a negative return of 84.74% and 5-years return came in at negative 42.0% as on October 08, 2018. If we see the Bollinger band, it is narrowing down representing a solid momentum. Also, the moving average convergence divergence (MACD) line is cutting the signal line from the bottom which indicates stock price momentum to be bullish. MEB’s shares traded at $0.058 with a market capitalization of circa $11.75 million as on 9 October 2018 (AEST 4:00 PM).

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