Medtronic to work with Australian depression Dx device maker Medibio

Medtronic ($MDT) signed a nonbinding memorandum of understanding with Medibio under which the two companies "will enter discussions around a proposed strategic agreement covering business opportunities and synergies across both companies," according to a statement that is short on details. Medibio aims to obtain FDA approval for what would be the first diagnostic device for mental illnesses like depression. The company describes the diagnostic and associated device as a "circadian heart rate variability technology" that has applications to the wellbeing, wearable and mobile health app arenas. More (PDF)