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AHI to target active mental health industry
4 minute read
Advanced Human Imaging Limited (ASX:AHI) has signed a binding term sheet with INTER-PSY B.V (Inter-Psy), a Netherlands based mental health and addition care company that has developed Health i Check, a preventative health screening app for the Dutch and European markets.
Inter-Psy offers psychological help in the form of diagnostics, counselling and treatment to infants, children, adults and the elderly where promoting mental health through personal, professional contact and evidence-based treatment is paramount.
Treatments within Inter-Psy are reimbursed from the basic health insurance of all health insurers.
The agreement incorporates AHI granting Inter-Psy the right to use AHI’s licensed Software Development Kits (SDKs) and related intellectual property to integrate them into the partner platform/technology.
This represents a strong finish to what has been an impressive month for AHI with the company flagging collaboration with other entities such as Discovery Vitality, e-Mersion Media and Jana Care Inc, as well as building on prior agreements.
This saw AHI’s shares increase nearly 80% in the space of a week during mid-May.
Targeting 200,000 active users on Health I Check platform
To progress this proposed initiative, the two entities plan to have a commercial agreement, Software Development Kit, end user license agreement, support and data processing agreement concluded no later than 25 August 2021.
Under the terms of the binding term sheet, Inter-Psy will target 200,000 active users on the Health i Check platform within the first 12 months, but there will not be any penalties for not achieving this target.
While the timing of revenue generation is difficult to predict, there is no doubting the strategic significance of partnership and the potential for long-term financial benefits.
With several locations across the Netherlands in the provinces of Groningen, Friesland and Drenthe and the possibility to receive support in the in-home care situation via Inter-Psy Home, Inter-Psy the product offering is easily accessible to patients, a factor that should assist the partners in achieving their high-volume target.
Based on the results of Health i Check, users receive professional advice on medical steps to be taken and how to improve health in a responsible manner.
Health i Check works with an ICT platform on which all data is collected securely and in accordance with privacy legislation with the results being visually reported in real time.
Where required Health i Check also supports the medical process by means of referral and aftercare.
Going live in the Netherlands in June
The Health I Check iOS and Android applications are scheduled to go live in June 2021 in the Netherlands: https://www.healthicheck.nl/ with the AHI integration planned to go live in October 2021.
Inter-Psy plans to market the Health i Check AHI integrated solution to the population of the Netherlands that are eligible for the government funded GLI - gecombineerde leefstijlinterventie (combined lifestyle Intervention) program.
This is a government funded behavioral change program designed for people who are overweight or obese, with the goal of achieving and maintaining a healthier lifestyle through healthier food, eating habits and exercise.
In the Netherlands, the government pays organisations up to €800 per person that have a BMI over 30 that undertake a 24-month GLI program.
Expansion into other countries that offer GLI type support
Upon the completion of the integration with AHI, Inter-Psy’s intention is to offer the combined Health i Check to the remaining countries within Europe, where the governments offer a similar program to the GLI initiative in the Netherlands.
Highlighting the relationship between early identification of potential medical problems and the early stage ‘prevention is better than the cure' initiatives, Vlado Bosanac, chief executive of Advanced Human Imaging said, "Companies like Inter-Psy combined with forward thinking countries such as the Netherlands are leading the way in reducing the burden on individuals, their families, and government health systems when contemplating the power of early intervention of common, chronic disease, the long-term effects of lifestyle related and preventable chronic diseases such as cardiovascular disease and Type 2 Diabetes by addressing these challenges through early intervention programs such as GLI.
“This initiative is based on identifying the early warning signs, and our technology can assist in identification of the markers of such lifestyle diseases.
“Providing at risk individuals with early warning signs and setting them on a healthier lifestyle course, not only benefits the individual, it has also been proven to lead to a longer, healthier lifespan.
“This also results in less money being spent by insurers, payers and governments treating individuals with chronic disease, reducing the tax payer burden and impact on already overloaded healthcare systems.
“This is the first of our partners to leverage government-funded programs when providing our technology to end users free of charge.
“I look forward to working with Adryan (Project Leader) and his team to help turn the tide on the common and preventable chronic disease plague of many nations.”