Medibio shares rise on Medtronic deal

Medibio (ASX:MEB) shares rose today on the Australian stock exchange after the company said it inked a deal with Medtronic (NYSE:MDT).

“The non-binding MOU provides a framework under which Medibio and Medtronic will enter discussions around a proposed strategic agreement covering business opportunities and synergies across both companies,” Sydney-based Medibio said.

The company is developing an objective test designed to help diagnose depression, chronic stress and other mental health disorders. The test uses circadian heart

MEB shares closed up 3.5% at A30¢ apiece today after Medibio announced the memorandum of understanding.

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