GTG and ‘Wellworks for You’ sign B2B sales & marketing deal covering 750 employer groups and 2 million U.S. employees
06 5월 2024 - 9:00PM
Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company”,
“GTG”), a global leader in genomics-based tests in health, wellness
and serious disease, is pleased to announce the execution of a
strategic joint sales & marketing agreement with US based
Wellworks for You Inc. (Wellworks). As part of the agreement,
Wellworks will incorporate the geneType portfolio of tests into its
fully flexible, scalable employee wellness solutions for
organizations and businesses across the U.S, providing direct
access to more than two million personnel.
Executing GTG's inaugural Business to Business
(B2B) collaboration with U.S. based Wellworks facilitates the
company’s entry into Wellworks' expansive network of self-insured
employers with the geneType Risk Assessment Test portfolio.
Assuming a conservative adoption rate of 2%
across the Wellworks network, we anticipate this collaboration will
generate an impressive 40,000 units in geneType sales in the first
year of implementation, potentially scaling to 5% or 100,000 tests
in year three. This partnership marks a pivotal milestone in both
the GTG and Wellworks expansion strategies.
- Wellworks provides a personalised
approach for corporate wellness for U.S. employers and their
employees.
- The partnership will provide access
to Wellworks’ 750 employer groups and includes more than
2,000,000 covered lives.
- Wellworks will refer their clients,
employer groups and their employees, to geneType for Risk
Assessment Testing as part of their overall corporate wellness
program.
Since 2009 Pennsylvania based Wellworks has been
providing wellness and risk management programs to employers and
their employees with the goal of improving the overall well-being
of their personnel. The company has more than 750 employer groups
covering more than 2,000,000 lives. The geneType platform fits
perfectly into Wellworks’ overall strategy of providing corporate
wellness programs that are designed to increase productivity in the
workplace.
GTG’s CEO, Simon Morriss, said “We are
incredibly excited about our partnership with Wellworks. Wellworks
is leading the way in providing corporate wellness programs across
their employer networks. GTG and Wellworks believe inclusion of the
geneType Risk Assessment portfolio will provide a major point of
differentiation for both companies, this a major step forward for
GTG on our pathway to profitability”.
Wellworks CEO, Thomas Tegler, noted “Including
the geneType Risk Assessment tests in our offering highlights our
company’s commitment to well-being solutions that are not
one-size-fits-all. Wellworks’ success has been built on
custom-designed, data-supported programs. GeneType will be a strong
addition to our portfolio and support our wellness strategy”.
Authorised for release by the Board of
Directors.
EnquiriesSimon
Morriss Chief Executive Officer
E: investors@genetype.com
About Genetic Technologies
Limited
Genetic Technologies Limited (ASX: GTG; Nasdaq:
GENE) is a diversified molecular diagnostics company. A global
leader in genomics-based tests in health, wellness and serious
disease through its geneType and EasyDNA brands. GTG offers cancer
predictive testing and assessment tools to help physicians to
improve health outcomes for people around the world. The company
has a proprietary risk stratification platform that has been
developed over the past decade and integrates clinical and genetic
risk to deliver actionable outcomes to physicians and individuals.
Leading the world in risk prediction in oncology, cardiovascular
and metabolic diseases, Genetic Technologies continues to develop
risk assessment products. For more information, please visit
www.genetype.com
About Wellworks For You
Since our founding in 2009, WellWorks For You
Inc. has been dedicated to enhancing workplace wellness through
innovative solutions and personalized services. With a commitment
to improving employee health and productivity, we offer a
comprehensive suite of wellness programs tailored to meet the
unique needs of each organization. From cutting-edge genetic risk
assessments to holistic wellness initiatives, our goal is to
empower businesses to create healthier, happier, and more
productive work environments. With a focus on evidence-based
practices and a passion for promoting well-being, WellWorks For You
Inc. is your trusted partner in achieving optimal workplace
wellness. For more information, please visit
https://www.wellworksforyou.com/
Forward Looking Statements
This announcement may contain forward-looking
statements about the Company's expectations, beliefs or intentions
regarding, among other things, statements regarding the expected
use of proceeds. In addition, from time to time, the Company or its
representatives have made or may make forward-looking statements,
orally or in writing. Forward-looking statements can be identified
by the use of forward-looking words such as "believe," "expect,"
"intend," "plan," "may," "should" or "anticipate" or their
negatives or other variations of these words or other comparable
words or by the fact that these statements do not relate strictly
to historical or current matters. These forward-looking statements
may be included in, but are not limited to, various filings made by
the Company with the U.S. Securities and Exchange Commission, press
releases or oral statements made by or with the approval of one of
the Company's authorized executive officers. Forward-looking
statements relate to anticipated or expected events, activities,
trends or results as of the date they are made. As forward-looking
statements relate to matters that have not yet occurred, these
statements are inherently subject to risks and uncertainties that
could cause the Company's actual results to differ materially from
any future results expressed or implied by the forward-looking
statements. Many factors could cause the Company's actual
activities or results to differ materially from the activities and
results anticipated in such forward-looking statements as detailed
in the Company's filings with the Securities and Exchange
Commission and in its periodic filings with the ASX in Australia
and the risks and risk factors included therein. In addition, the
Company operates in an industry sector where securities values are
highly volatile and may be influenced by economic and other factors
beyond its control. The Company does not undertake any obligation
to publicly update these forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
Genetic Technologies (NASDAQ:GENE)
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