Insurer nib takes 50% stake in medtech startup Midnight Health in $4 million deal
Summary
The two platforms offer a network of Australian doctors, pharmacies and healthcare partners to provide an online patient experience with treatments through to delivery. The injection of funds from the nib deal will be used to grow the team and deliver a more robust patient-led healthcare platform, new products, marketing and customer acquisition. “In addition, the investment will allow us to pursue a strategic partnership with nib and gain access to their 1.4 million members to provide digital healthcare services, bringing great exposure to Midnight Health and our group of brands,” he said. “nib understand the healthcare landscape on an international scale and is committed to improving the future of this industry as technology advances and patient requirements evolve,” he said. “There’s a large marketplace for healthcare products and services we’re generally not able to cover through private health insurance so to this extends our reach.