Medibio Announces Executive Leadership Changes

SYDNEY, Australia and MINNEAPOLIS, Minn., Sept. 21, 2018 (GLOBE NEWSWIRE) -- The Board of Medibio Limited (MEB or the Company)(ASX: MEB)(OTCQB: MDBIF), today announced several changes to the Company’s executive leadership team.

Medibio is pleased to announce the appointment of Jennifer Solitario as Senior Vice President of Corporate Health. Ms. Solitario is a proficient leader with more than 20 years of experience in the health insurance industry. Working as Executive General Manager Health and Wellness at HBF Health, Ms. Solitario oversaw benefits management, pharmacy, community and corporate wellness business units. She managed benefits payments of over A$1B, oversaw the growth in the pharmacy business, developed the company’s Community Wellness strategy, and introduced a unique Corporate Wellness Index which enabled organisations to gauge overall health in the workplace.

Ms. Solitario has a strong network with CEO’s and executive staff in the Australian private health insurance sector, as well as major private hospitals and healthcare providers in the Australian market. She also brings proven and extensive contract negotiation skills, having negotiated individual contracts of up to $250M. Ms. Solitario will be located in the Company’s Perth office.

The Company plans to release its ilumen product in October for corporate health customers in Australia. We believe our technology and products offer valuable tools to provide objectivity in screening, diagnosing, monitoring and managing mental health. We look forward to servicing those Australian customers who have embraced the ilumen corporate product.

Leadership Transition Update

• On August 28, 2018, Mr. Cosentino ceased to be Managing Director and CEO. As of Thursday, September 20, 2018, Cosentino also resigned as a Director.
  
   
• The Company has engaged an executive recruiting firm, Finnesse Partners, to lead the efforts in finding a new Chief Executive Officer. Finnesse Partners is dedicated exclusively to the MedTech industry with over 30 years experience in the marketplace.
  
   
• Ms. Slocombe is no longer employed by the Company. We wish her the best for her future endeavors.

About Medibio Limited

Medibio (ASX: MEB) (OTCQB: MDBIF) is a mental health technology company that has pioneered the use of objective biometrics to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions. The company was founded in Australia, with offices now located in Melbourne (Vic), Perth (WA) and Minneapolis, MN. Medibio is listed on the Australian Securities Exchange Ltd and trades on the OTCQB Venture Market. Investors can find additional information on and