Careteq announces Strategic Partnership with Medic Alert

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Stock Careteq Ltd (CTQ.ASX)
Release Time 10 Feb 2025, 9:51 a.m.
Price Sensitive Yes
 Careteq partners with MedicAlert to enhance medication safety
Key Points
  • Strategic partnership to improve health outcomes for Australians with complex medical conditions
  • Combines MedicAlert's medical identification services with Careteq's medication management expertise
  • Aims to address critical healthcare challenge of medication-related harm
Full Summary

Careteq Limited (ASX: CTQ), a clinical healthtech company specialising in medication management and clinical governance solutions, has announced a strategic partnership with MedicAlert Foundation Australia (MedicAlert) to improve health outcomes for Australians living with complex medical conditions. The collaboration brings together MedicAlert's trusted medical identification services with Careteq's comprehensive medication management expertise, addressing the critical healthcare challenge of medication-related harm. With one in two older Australians taking five or more medications and a high likelihood of adverse drug reactions, the partnership offers timely solutions for medication safety. The partnership will focus on cross-promotion and awareness of services, enhanced medication safety for Australians in the community, and healthcare professional training and education. Both organisations emphasise that the collaboration will maintain their commitment to privacy and data security while expanding services available to their respective communities.

Guidance

The partnership is expected to enhance medication safety and improve health outcomes for Australians, but no specific financial guidance or metrics were provided.

Outlook

The partnership represents a significant step forward in the mission to protect Australians with chronic health conditions by combining MedicAlert's emergency identification services with Careteq's medication management expertise. The collaboration aims to create a more comprehensive safety net for members and customers of both organisations.