OCTOBER 21, 2021, Vancouver, British Columbia: Wellteq Digital Health Inc. (CSE:WTEQ) (OTCBB:WTEQF), (the “Company” or “wellteq”), which supplies digital health and wellness solutions to customers in 12 languages across 30 countries is pleased to announce, that further to the Company’s News Release of June 8th 2021, wellteq has completed the execution of a perpetual license agreement for sleep chronotype assessments and educational content from with one of Asia Pacific’s leading sleep technology providers. Under the perpetual license, wellteq has unrestricted usage rights in relation to the assets of the license.
wellteq focuses on coaching its subscribers within the four levers of behavioural health – activity, nutrition, mindset, and sleep. The Company recognises the existing importance of sleep within established occupational Health and Safety divisions of industries where fatigue-related accidents can cause serious injury, fatality, and significant direct and liability costs. Industries such as aviation, logistics, mining, construction, and oil and gas have had dedicated divisions to combat this risk for decades. Wearables such as Apple Watch (NASDAQ: AAPL), Fitbit (NASDAQ: GOOG) and Garmin (NASDAQ: GRMN) and data driven health providers such as wellteq are rapidly advancing solution capabilities for these traditional enterprise customers and for a new generation of customers in the insurance and healthcare sectors.
The COVID-19 pandemic has contributed to a rising prevalence of sleep disturbance from conditions like insomnia, stress and anxiety which directly impact fatigue, burnout and exhaustion across almost all vocations, it’s no longer limited to just blue-collar sectors. The total addressable market for employee sleep solutions is rapidly growing and projected to reach revenues of USD 137.16 Billion by 20261. wellteq’s sophisticated coaching programs across activity, nutrition, sleep and mental health is strongly positioned to be an industry leader within the digital sleep solution markets across the corporate and healthcare industries.
wellteq CEO, Scott Montgomery stated, “As previously articulated, sleep is an area of high focus within our corporate development strategy because of its horizontal importance across the continuum of care from wellness to clinical care. The COVID-19 pandemic has increased the prevalence of sleep disruption effecting people in their personal lives and their job roles. Wellteq is investing capital through development, licensing, partnerships and acquisition to rapidly advance our sophisticated sleep solutions and support our revenue growth model.”
wellteq Digital Health Inc. is a leading global provider of personalized digital health and wellness
solutions across the continuum of care.
To learn more, visit https://wellteq.co/
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wellteq Investor Contact:
Bristol Investor Relations
T: (905) 326-1888
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assumptions, analyses and assessments are reasonable at the time the statements contained in this news release are made, actual results
may differ materially from those projected in any forward-looking statements. Examples of risks and factors that could cause actual
results to materially differ from forward-looking statements may include: the timing and unpredictability of regulatory actions; regulatory,
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the industry and product development; limited products; reliance on third parties; unfavourable publicity or consumer perception; general
economic conditions and financial markets; the impact of increasing competition; the loss of key management personnel; capital
requirements and liquidity; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; shifts in the demand
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in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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