wellteq is pleased to announce the signing of a strategic partnership to commercialize research and intellectual property for sleep assessment and coaching solutions with Monash University, Australia.
With a heightened focus on the aviation, healthcare, mining and construction sectors where workers are at heightened risk of excessive sleepiness at work and insomnia at home, the announcement further strengthens wellteq’s sleep solution capability.
Monash University is a globally recognised university in Melbourne, Australia, which has researched and developed sleep IP for over seven-years and holds a patent application for this program.
We are delighted to explore a partnership with wellteq, a company committed to improving health and wellbeing through digital solutions. We will work with wellteq to deliver sleep-related products for improving workplace mental health and wellbeing, and also productivity.
Olly Bridge, wellteq Chief Growth Officer stated: “Like most products, the best health coaching solutions require the latest scientific research combined with industry expertise. We are delighted to work with some of the world’s leading sleep scientists and psychologists at Monash University, led by Professor Rajaratnam and his team within the Turner Institute for Brain and Mental Health.”
Poor sleep is a significant contributor to mortality and morbidity including mental health, cardiac illness, metabolic conditions and some cancers. A recent journal in the Lancet disturbingly highlighted that sleep, anxiety, and depressive disorders have increased since the onset of the COVID-19 pandemic.
In Australia, a Deloitte Access Economics report commissioned by the Sleep Health Foundation showed around 1 in 10 Australians have a sleep disorder that can substantially affect their well-being, safety and productivity, with an estimated overall cost of AUD$14.4 billion in financial costs with a further AUD$36.6 billion in non-financial costs related to poor wellbeing. A 2016 Study calculated that sleeplessness cost $411 billion per year in the US, equivalent to 2.28% of the US GDP at the time.
The Monash sleep technology license along with our recently announced license, are guided by our strategic focus on the four behavioural levers of health, and sleep is as important to one’s health as nutrition, exercise and mental wellbeing. Even the best exercise routine, diet and mindset cannot sustain health without proper sleep.
wellteq’s mission is to coach the world to better health focusing on the four health levers – activity, nutrition, mindset and sleep. Through leveraging computer science, data science and health science, wellteq believes they are fast approaching a tipping point where personalized, prevention focused solutions will engage people in all countries with healthier lifestyles, thus reducing behaviour related healthcare spend – a major economic strain and burden on healthcare systems the world over.
Read the full Press Release here
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