GTG and ‘Wellworks for You’ sign B2B sales & marketing deal covering 750 employer groups and 2 million U.S. employees

MELBOURNE, Australia, May 06, 2024 (GLOBE NEWSWIRE) -- 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”.