Healthcare provider Midnight Health has secured up to a further $24 million in funding from nib holdings, with a key focus on rural and regional access, through increasing IT and accessibility.
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Midnight Health delivers remote healthcare, providing consultations, online scripts, telehealth consults and pharmacy delivery-to-door for more than 70 per cent of Australia's remote postcodes; with over 1000 doctors consults since its launch two years ago.
Midnight Health's founder and CEO Nic Blair is determined to improve access to health services and information for those in rural and regional areas.
"This latest investment will allow us to accelerate growth, develop new services and bring our innovative healthcare solutions to more patients across Australia as we work to change the way care is delivered," Mr Blair said.
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Following this latest funding, subject to meeting performance hurdles, nib expects to invest a further $9 million in Midnight Health which will mean a total of $40 million invested since 2021.
nib Managing Director, Mark Fitzgibbon said they view Midnight Health's range of products and services as key elements in their vision to become a leading health management company.
"We are gradually building an ecosystem of technologies and assets, such as Midnight Health, which enable people to personalise and seamlessly meet their healthcare needs," Mr Fitzgibbon said.
"It's an exciting and important endeavor, especially when you consider the fragmentation within healthcare."
Government data shows that people living in remote areas have higher rates of hospitalisations, deaths, injury and also have poorer access to healthcare services. That's an estimated seven million people said to have poorer health outcomes than people living in metropolitan areas.
According to Mr Blair, Midnight Health has already demonstrated traction, momentum and strong revenue growth.
The service is currently used by 1,056 postcodes in regional and remote areas, which includes more than 26,000 customers.
"Since the 2021 launch, we've experienced year-on-year growth of 320 per cent and have serviced over 85,000 customers. We're really proud that we reach a large number of people who live in remote regions across Australia and don't always have access to a GP,' Mr Bair said.
