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- Wellteq (CSE.WTEQ) have signed a partnership agreement with ClassPass, the world's largest aggregator of fitness and wellness experiences with a network that includes 40,000 health and fitness businesses across 30 countries around the world.
- This partnership with ClassPass expands Wellteq's digital health and wellness platform to now include virtual and in-studio fitness classes of yoga, strength training, barre, martial arts, pilates, boxing, and indoor cycling classes amongst others.
- Wellteq's employer and insurer clients can now offer motivational fitness and wellbeing tools that seamlessly integrate into current wellbeing programs for their employees or policy holders regardless of their location or working environment.
- The new combined solution will initially be available across Australia, New Zealand, Singapore, Hong Kong, Thailand, Philippines and India.
WellteQ Digital Health Inc. (CSE:WTEQ) (OTC:WTEQF) (the "Company" or "Wellteq") is pleased to announce the Company has launched a partnership with ClassPass, the leading global fitness and wellness marketplace.
Offering the Latest Revolution in Fitness and Wellness
Founded in 2013, ClassPass is a membership that provides access to the world's largest network of fitness and wellness providers. ClassPass partners with more than 30,000 pre-vetted exercise studios, health clubs and wellness providers to offer a broad range of digital and in-person classes including yoga, Pilates, strength training, boxing and more. Members can also instantly book inspiring wellness experiences, such as massages, acupuncture, and spa treatments from more than 11,500 bookable wellness and beauty venues. Through current Corporate Wellness offerings, ClassPass partners with more than 2,000 corporate and enterprise employers to provide easy access to digital and in-person fitness benefits and wellness activities for teams.
Integrated Solution Supports End Users Reaching Recommended Fitness Standards
Roughly one third of the global adult population is not meeting the minimum weekly level of physical activity recommended by the World Health Organisation. ClassPass's localised fitness classes and online in-home workouts, combined with Wellteq's current physical activity, coaching functionalities and wearable data tracking, will bring unrivalled precision wellness to end users. For both employers and insurance providers, this innovative data-driven wellness solution ensures safe and expert guidance to employees and policy holders alike.
How Businesses can use this New Solution
For employers, this partnership offers an online-offline solution for their workforce that spans the full wellness spectrum, including easy, localised access to gyms and studios as well as home-based health monitoring. The combined solution provides employees with the right tools to stay active and maintain their activity level during periods of lockdown or work-from-home mandates during the ongoing health crisis:
- More accurate employee profiling allows employees to understand exactly what they need to work on, when and for how long.
- Safe and secure digital environment for employees ensures that users who are not able to leave home can still benefit from challenging physical workouts.
- A dedicated solution that improves the lives of the workforce irrespective of location.
This combined enterprise solution will initially be made available in Australia, New Zealand, Singapore, Hong Kong, Thailand, Philippines and India, with plans to extend into other regions.
Sam Canavan, Managing Director (APAC) of ClassPass said, "Since our founder grew frustrated trying to book a dance class in New York City more than eight years ago and decided to fix the problem by creating ClassPass, our mission has been to make discovery and booking frictionless for fitness and wellness experiences. This new partnership with Wellteq allows us to continue on this mission, unlocking a suite of in-person and online experiences to cover all health and wellness bases, with precious few barriers to entry. Our APAC data shows us fitness and wellness is going to be a larger part of more people's routines in this region than it was pre-pandemic, and our team is continuously growing our network of venue partners beyond 3,000 in APAC alone - encompassing everything from meditation in Melbourne, to a sauna or spas in Singapore to Barre in Bangkok - giving users ever-increasing optionality, knowing everyone's fitness and wellness journey is different."
Olly Bridge, Chief Growth Officer of Wellteq, said, "Meeting people where they are on their health journey is critical for behaviour change and we are thrilled to be growing Wellteq's ability to do just that with the world class offering from ClassPass. No matter if a person is just beginning their health improvement journey or well entrenched in it, this partnership brings real value to users both inside and outside of their home. This partnership is also holistic in nature, as it offers both mental health benefits as well as physical health, and that demonstrates Wellteq's commitment to strengthening and growing our broad partnership network."
About ClassPass
ClassPass provides access to the world's largest network of fitness and wellness providers, all with one membership. The ClassPass network includes 40,000 pre-vetted exercise studios, health clubs and wellness businesses that offer a broad range of digital and in-person classes including yoga, Pilates, strength training and boxing, and wellness experiences such as massages, acupuncture, and spa treatments. ClassPass helps first-time studio owners, emerging fitness chains and known boutique brands to merchandise their excess inventory, find new customers and generate new streams of revenue. Since 2018, ClassPass has also partnered with over 2,000 companies to offer fitness and wellness benefits through the ClassPass Corporate Wellness Program. For more information, visit https://classpass.com .
About WellteQ Digital Health Inc.
WellteQ Digital Health Inc. is a leading provider of corporate wellness solutions developed to provide data-driven personalized health and wellness coaching to engage its users in healthier behaviours. As an enterprise (business-to-business) model, Wellteq currently has two main sectors of customers: employers and insurance companies. Wellteq has secured a large multinational portfolio of customers, including UBS, DBS and Bupa Insurance, and reseller partners, like Willis Towers Watson, Advanced Human Imaging and Garmin. Wellteq is developing its newly acquired Internet of Medical Things (IoMT) platform for virtual care applications which will extend the Wellteq continuum of care from preventative wellness through to virtual healthcare.
| Investor Contact: Glen Akselrod Bristol Investor Relations E: glen@bristolir.com T: (905) 326-1888 | Sales & Partnership Contact: stacey@wellteq.co mandy.menaker@classpass.com |
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 forward-looking 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.
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