Genomics-based leader in health, wellness and serious disease Genetic Technologies Limited (ASX:GTG, NASDAQ:GENE, OTC:GNTLF) has struck up a strategic joint sales and marketing agreement with US-based Wellworks for You Inc, which covers 750 employer groups and 2 million US employees.
The agreement entails Wellworks integrating GTG's geneType portfolio of tests into its fully flexible and scalable employee wellness solutions for organisations and businesses across the US, providing direct access to over two million personnel.
Opens doors to extensive network
This collaboration marks GTG's inaugural business-to-business (B2B) partnership with Wellworks, opening doors to Wellworks' extensive network of self-insured employers using the geneType Risk Assessment Test portfolio.
GTG anticipates significant sales growth through this collaboration, projecting an initial 40,000 units in geneType sales in the first year, with potential scaling to 100,000 tests by year three, based on a conservative adoption rate of 2% across Wellworks' network.
Key aspects of the partnership include:
- Wellworks' personalised corporate wellness approach for US employers and their employees;
- access to Wellworks' 750 employer groups and more than 2 million covered lives; and
- referral of Wellworks' clients and employees to geneType for risk assessment testing within their corporate wellness programs.
Wellworks, established in 2009 in Pennsylvania, specialises in wellness and risk management programs for employers and employees, with a focus on enhancing overall wellbeing.
Tailored corporate wellness programs
The inclusion of GTG's geneType platform aligns seamlessly with Wellworks' strategy of tailored corporate wellness programs aimed at boosting workplace productivity.
This collaboration signifies a pivotal milestone for GTG and Wellworks, promising mutual growth and innovation in the realm of corporate wellness solutions.
GTG 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 added: “Including the geneType Risk Assessment tests in our offering highlights our company’s commitment to wellbeing 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.”