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Nib takes $4 million stake in Midnight Well being

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Well being insurer nib has acquired a 50 % stake in Australian digital well being startup Midnight Well being for $4 million.

Midnight Well being integrates telehealth know-how, medical doctors, pharmacy networks and different well being companions for sufferers who don’t want to go to well being companies in particular person.

Based in October 2020, the platform connects customers with different companies reminiscent of male-focused well being session firm Stagger and girls’s well being options firm Youly.

Each provide text-based consultations plus entry to remedies and prescriptions by means of progressive on-line options, with plans to increase in senior care within the upcoming months.

Nib said the partnership with Midnight Well being would help within the supply of personalised well being remedy packages within the broader healthcare market.

The insurer’s managing director Mark Fitzgibbon stated, “There’s a big market for healthcare services” unable to be accessed by means of personal medical health insurance, “so this extends our attain.”

“It additionally permits us to supply extra personalised assist for personal medical health insurance members,” Fitzgibbon stated.

“Importantly, it can introduce many younger folks to nib who might not but be prepared for personal medical health insurance.”

Fitzgibbon added Midnight Well being recognised the healthcare market is various and “that buyers are demanding services aligned with their particular person wants. “

“More and more, supply [of health services] will probably be closely reliant upon digital platforms which know them and are simple to entry and navigate,” he stated.

“Midnight Well being have already got greater than 4500 subscribers and we naturally anticipate this to develop with our shut involvement.”

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