MELBOURNE: Careteq Limited (ASX: CTQ), a clinical healthtech company specializing in innovative medication management, has announced a strategic partnership with MedicAlert Foundation Australia to improve health outcomes for Australians with complex medical conditions.
The collaboration aims to address medication-related harm by combining MedicAlert’s medical identification services with Careteq’s medication management expertise.
Medication-related harm is a significant issue in Australia, particularly among older adults. Recent data from the Australian Commission on Safety and Quality in Health Care reveals that only 5.4% of Australians aged 75 or older received a Home Medication Review (HMR) or Residential Medication Management Review (RMMR) in the past year. This leaves over 500,000 at-risk individuals without necessary medication reviews, with those living in the community even less likely to receive these services compared to those in aged care homes.
The partnership will focus on cross-promotion of services, enhancing medication safety, and providing healthcare professional training and education. MedicAlert members will gain access to Careteq’s medication management services, including HMRs, while Careteq’s clients will be informed about MedicAlert’s medical identification products and 24/7 emergency response services.
“This partnership represents a significant step forward in our mission to protect Australians with chronic health conditions,” said Chris Radbone, CEO of MedicAlert Foundation Australia. “By combining our emergency identification services with Careteq’s medication management expertise, we’re creating a more comprehensive safety net for our members.”
Mark Simari, Executive Chairman of Careteq, added, “Our partnership with MedicAlert aligns perfectly with our goal of preventing medication-related harm. By raising awareness of the benefits of HMRs, we hope to enhance health outcomes for all Australians.”
MedicAlert Foundation Australia, established in 1971, provides custom-engraved medical ID jewellery and a 24/7 hotline for emergency medical information. In 2023, the organization launched the MedicAlert QR ID, allowing first responders to instantly access crucial patient information.
Careteq, through its Embedded Health Solutions (EHS) and HMR Referrals platforms, is a leading provider of medication management services in Australia, focusing on preventing medication-related harm and improving clinical outcomes.
Both organizations emphasize their commitment to privacy and data security while expanding services to their respective communities.
Careteq Limited sells Sofihub business to Directed Technologies for $0.58 million