Treatments from an innovative Perth healthcare company offering novel MDMA and psilocybin-assisted therapy for PTSD will be covered by insurance in three states, after it expanded an agreement with Medibank.
Treatments from an innovative Perth healthcare company offering novel MDMA and psilocybin-assisted therapy for PTSD will be covered by insurance in three states, after it expanded an agreement with Medibank.
ASX minnow Emyria told the market this morning its existing agreement with Medibank, which covers treatment costs for eligible customers accessing treatment for PTSD and depression in WA and Queensland, would be expanded to Victoria.
The company's Empax centres provide treatment for a variety of mental illnesses, from depression and anxiety to post traumatic stress disorder, combining novel medications like cannabis, psilocybin and MDMA and supportive psychotherapy.
It includes dedicated spaces for extended treatment, advanced AV monitoring and immersive sound systems to create an environment of comfort for patients.
The expanded Medibank deal comes after the company first touted its Victorian clinic in December; located in Avive Health's 60-bed Morning Peninsula mental health hospital.
It's expected to commence treatments in the second quarter of this year.
That came under a multi-year deal signed last year with Avive for Empax clinics in Victoria, Queensland and South Australia, which can be extended for two more three-year terms at Emyria's discretion.
Emyria executive chair Greg Hutchinson said adding Victoria to its insurer-backed segments was an important step for the company.
"We're thrilled to extend our agreement with Medibank and bring our insurer funded Empax programs in Victoria," he said.
"Our goal has always been to make world-class, evidence-based mental health care accessible to every Australian who needs it. By integrating insurer funding into high-quality hospital programs, we're removing financial barriers that have historically limited access to comprehensive trauma and mood disorder treatments.
"With funded programs now operating across three states, Emyria is demonstrating that our data-driven model of care can scale nationally. This expansion will enable more Australians to access effective treatment for complex mental health conditions while contributing valuable data to help modernise and strengthen Australia's healthcare system."
Emyria last week also revealed its shares would be traded on Europe's second largest exchange, the Frankfurt Stock Exchange.
The company said the FSE was chosen to increase exposure to European investors and due to it not imposing any further compliance or regulatory requirements or costs.
Dr Reuter Investor Relations was also appointed to support its European activities.
"Emyria has reached a stage in its development where our national clinic footprint, accelerating revenue growth, dual reimbursement pathways and durable real-world PTSD outcomes position us for broader international engagement," Mr Hutchinson said.
"Commencing structured European investor outreach is a logical extension of our strategy to improve accessibility for institutional and specialist healthcare investors, while our operational focus remains firmly on what has brough us to this point.
"That is, clinical execution, durable patient outcomes, disciplined expansion and the continued broadening of reimbursement pathways."
In November, Emyria was named the winner of the Wellbeing Award at the WA Innovator of the Year awards.
