VANCOUVER, British Columbia, August 12, 2021 (GLOBE NEWSWIRE) — Wellteq Digital Health Inc. (CSE.WTEQ) (OTCQB.WTEQF) (the “Company” or “wellteq”) is pleased to announce the Company has signed a global Master Services Agreement for 5 years with Northern Trust Corporation, a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, families, and individuals.
Companies invest into preventative or corrective health services for their workforces to improve employee health, workplace culture and team engagement and to reduce employee related costs such as absenteeism and preventable healthcare risk, preventable care utilization, and related care expenditures. A 2010 study published by Harvard University: Health Affairs estimated that, for every dollar spent on corporate wellness programs, medical costs fell by approximately $3.27 and absenteeism costs fell by about $2.73 for every dollar spent1. With such quantifiable benefits, the industry is projected to grow to over US $90 billion annually by the end of 20262.
Through its smartphone application, wellteq offers personalized wellness, risk reduction, illness prevention and digital coaching capabilities to employees in over 30 countries and 12 languages. wellteq’s capabilities are seamlessly integrated with wearables, such as Garmin (NASDAQ.GRMN), Apple Watch (NASDAQ.AAPL) and Fitbit (NASDAQ.GOOGL), and with rewards, incentives and telemedicine partners.
As a banking institution with offices across the United States and 23 locations in Canada, Europe, the Middle East, and the Asia-Pacific region, Northern Trust has recognized the importance of offering localized employee wellness solutions to their regional teams. The first wave of the Wellteq deployment offers wellteq’s digital health platform to Northern Trust’s Asia Pacific employees in Singapore, Hong Kong, Australia and the Philippines commencing in Q3, 2021.
wellteq CEO Scott Montgomery stated, “Wellbeing is more essential than ever. While employees try to cope with drastic and rapid workplace changes and professional stresses, employers need to find new tools to help support employees. A recent survey from the Centers for Disease Control and Prevention found that 41% of all U.S. adults are struggling with mental health3 stemming from the COVID-19 pandemic. wellteq’s behaviour change support programs offer credible health information and digital coaching across sleep, activity, mindset and nutritional habits and we’re working with forward-thinking organizations like Northern Trust that genuinely care to help their teams survive and thrive in this new normal.”
“We are deeply committed in supporting our employees and encourage holistic wellbeing,” said Angelo Calvitto, Head of Asia Pacific, Northern Trust. “wellteq complements the extensive suite of benefits and resources we provide our employees and will help bring them the most relevant resources to boost their physical, emotional, and financial health while at work and at home.”
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/
Download the wellteq Corporate Presentation:
wellteq Investor Contact:
Bristol Investor Relations
T: (905) 326-1888
Cautionary Note Regarding Forward-Looking Statements:
This news release contains information or statements that constitute “forward-looking statements.” Such forward looking statements
involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or
developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forwardlooking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified
by words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or
that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward looking information may include, without limitation, statements regarding the operations, business, financial condition, expected
financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, milestones, strategies and outlook of
Wellteq, and includes statements about, among other things, future developments and the future operations, strengths and strategies of
Wellteq. Forward-looking information is provided for the purpose of presenting information about management’s current expectations
and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. These
statements should not be read as guarantees of future performance or results.
The forward-looking statements made in this news release are based on management’s assumptions and analysis and other factors that
may be drawn upon by management to form conclusions and make forecasts or projections, including management’s experience and
assessments of historical trends, current conditions and expected future developments. Although management believes that these
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,
legislative, legal or other developments with respect to its operations or business; limited marketing and sales capabilities; early stage of
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
for Wellteq’s products and the size of the market; patent law reform; patent litigation and intellectual property; conflicts of interest; and
general market and economic conditions.
The forward-looking information contained in this news release represents the expectations of Wellteq as of the date of this news release
and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and
should not rely upon this information as of any other date. Wellteq undertakes no obligation to update these forward-looking statements
in the event that management’s beliefs, estimates or opinions, or other factors, should change.
The CSE has neither approved nor disapproved the contents of this news release.