EMD extends funding deal with Medibank into Brisbane

Published 15-OCT-2025 14:16 P.M.

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Our psychedelic and mental health Investment Emyria (ASX: EMD) just expanded its funding agreement with Medibank for patients in Brisbane.

EMD is the first (and only) company in Australia to receive regulatory approval AND secure support from a major health insurer to provide psychedelic-assisted therapies.

A few months ago EMD signed an agreement with Medibank - which would see Medibank pay for all the costs of its “psychedelics for mental health” treatment.

(These treatments are typically valued between $20,000 and $30,000 per patient)

That deal was initially in place for patients coming into EMD’s Perth clinics.

After today’s announcement medibank will also fund patients that come into EMD’s Brisbane clinic.

The Brisbane clinic is currently being fitted out with regulatory preparations underway with treatments expected to commence before the end of the year.

Interestingly, today’s announcement comes only a few weeks after EMD said its Perth clinic was “nearing capacity for the remainder of 2025”.

(Source)

EMD is hosting a webinar at 3:00PM AEDT with Greg Hutchison (Executive Chairman) and Mary-Ann Rennie (COO) who will give an update on recent developments and the company's forward strategy.

Click here to register for the webinar

Looking ahead, we think news like today’s will mean EMD can start to build momentum with its national rollout strategy knowing that if there is demand, there will be a potential payer willing to fund patients…

EMD had explicitly said it is actively exploring opportunities with additional hospital partners and insurers to expand its network across metropolitan and regional Australia.

(Source)

So we are looking forward to EMD's progress in expanding its care network, analysing real-world clinical data, advancing clinical trials, and forming new partnerships in the healthcare sector.

Here is how we see EMD’s rollout strategy playing out:

Because EMD is in the fortunate position of securing a “payer” for its services, its main focus is on scaling up its operations.

We have Invested in EMD to see it not only become the market leader in the Australian psychedelics care, but build a monopoly on delivering these services.

At the same time, we recognise that there is no guarantee of success here, this is small cap investing and there are risks involved.

We think EMD has a very defensible market position because it has:

Authorisation from the TGA to deliver MDMA-assisted care to patients (this is not easy to get)
A Payer Agreement with Medibank to cover the cost of these therapies to its members (years in the making).
Data that shows it works and continues to work months after the patient is treated.
A means to deliver therapies through physical clinics that it owns and operates (EMD is now looking to expand its footprint by licensing hospital space).
Scale potential with an approved protocol from the TGA that it can “franchise” out to other clinics looking to deliver assisted therapies.

What’s next for EMD?

First revenues from Medibank deal

According to EMD’s recent announcement, first revenues from the Medibank deal will be booked in the quarter so we could see this reflected in the upcoming quarterly to be released this month.

More new sites opened

Now that EMD has signed on with Avive Health we want to see other potential sites that it can scale up its clinics to.

Expand care offering to new indications and/or new drug therapies

We want to see EMD expand its assisted therapy programs to psilocybin and ketamine, also for different mental health conditions like anxiety, treatment resistant depression etc...