Life Science News

Wellteq Digital Health Inc. Announces Release of the IoMT HealthHub

Wellteq Digital Health Inc. Announces Release of the IoMT HealthHub

  • WellteQ Digital Health Inc. (CSE: WTEQ) (OTCQB: WTEQF) has released the Company's internet of medical things (IoMT) HealthHub into device integrations with Beta research partners for testing purposes.
  • The wellteq HealthHub is the result of an extensive internal development effort to produce an open standard and scalable IoMT platform for distributed virtual care deployments in enterprise health, clinic, pharmacy, and remote locations.
  • The wellteq HealthHub connects, manages, and monitors both standardized medical and non-medical devices for a completely integrated IoMT/IoT intelligent edge solution, allowing for control of any standardized commercial, industrial, residential, or medical smart device - an industry first and must-have for next generation virtual care deployments.
  • The initial market for the wellteq HealthHub will be B2B for both in-market and new-to-market virtual care solutions.
  • wellteq will soon offer its baseline B2B virtual care platform integrating the wellteq HealthHub, wellteq Clinical Vitals Wearable and the wellteq Virtual Care Coaching APP.
  • The IoMT market is projected to grow from $30.79 billion in 2021 to $187.60 billion in 2028 at a compound annual growth rate (CAGR) of 29.5%1. While annual digital health spending is projected to reach $660 billion by 20252.

WellteQ Digital Health Inc. (CSE: WTEQ) (OTCQB: WTEQF), (the "Company" or wellteq"), which supplies digital health and wellness solutions to customers in 12 languages across 32 countries is pleased to announce the Beta release of its new internet of medical things (IoMT) HealthHub, targeting commercial release later this year.

Based on a survey2of physicians in the United States who serve predominantly Medicare fee-for-service (FFS) and Medicare Advantage (MA) patients, McKinsey estimates that up to $265 billion (about $820 per person in the US) worth of care services - which represents up to 25% of the total cost of care - for Medicare FFS and MA beneficiaries could shift from traditional facilities to the home by 2025, without a reduction in quality or access.

The wellteq HealthHub has been developed from scratch by the Company, as an entirely new IoMT platform that can connect, manage, and monitor any standardized IoMT or IoT device using edge computing. Edge computing is part of a distributed computing topology in which information processing is located close to the physical location where things and people connect with the network. The HealthHub was specifically designed for the transition from centralized to distributed health deployments across enterprise health, clinic, pharmacy and for remote patient locations.

Edge computing augments and expands the possibilities of the primarily centralized, hyperscale cloud model of today, and supports the systemic evolution and deployment of the IoMT and new application types, enabling next-generation digital health applications. The HealthHub also offers contingency to cloud server processing in the case of a network outage to create a temporary stand-alone network.

The HealthHub has been built with wellteq's next-generation Unified API, which allows for secure remote monitoring and management, and enables third-party integrations with all aspects of the HealthHub and the API. This allows the HealthHub to be an integral value add for both new and existing EPHI (electronic protected health information) systems. All features and functionality delivered through wellteq's client applications and hardware will be offered as combined or stand-alone services for clients and partners to integrate with their own applications, services, and systems. This includes IoMT metrics capture, processing and automations, patient tracking with personalized digital coaching, reward scheme management, social activities, and content.

A powerful eight-core processor, large memory footprint and a versatile machine-learning secondary processor enable the hub to handle a wide variety of services, including natural language processing (NLP) services and auto-updated training models for artificial intelligence (AI). To best support the wide variety of IoMT devices, wellteq has designed a custom wireless chipset, enabling connectivity with Wi-Fi, Bluetooth, Zigbee, Z-Wave and, optionally, cellular. Alongside the wireless chipset is a completely customized and optimized firmware stack that helps manage the multitude of wireless protocols, allowing the HealthHub to support over 500 connected IoMT and/or IoT devices simultaneously.

wellteq CEO, Scott Montgomery stated, "We are excited to initiate wellteq's entry into virtual care with a uniquely robust and truly one-of-kind solution. It has taken some time and a lot of effort, and we are proud to be the first company to launch an IoMT specific solution like the HealthHub that has been designed from scratch to facilitate the digital transition to virtual care for patients around the world."

wellteq is now working closely with its Beta research partners to integrate the HealthHub into their already deployed IoMT and IoT device configurations and applications for a variety of healthcare use cases, which will be the basis for wellteq's generic and condition-specific solutions for new B2B Virtual Care customers.

References

  1. https://www.fortunebusinessinsights.com/industry-reports/internet-of-medical-things-iomt-market-101844
  2. https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/from-facility-to-home-how-healthcare-could-shift-by-2025

About WellteQ Digital Health Inc.

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 http://www.wellteq.co.

Download the Wellteq Corporate Presentation:
https://wellteq.co/about/investors/

wellteq Investor Contact:

Glen Akselrod
Bristol Investor Relations
E: glen@bristolir.com
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 forward-looking statements. Forward-looking statements are statements that are not historical facts and are, 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 if management's beliefs, estimates or opinions, or other factors, should change.

The CSE has neither approved nor disapproved the contents of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120289

News Provided by Newsfile via QuoteMedia

WTEQ:CC
The Conversation (0)
wellteq Digital Health Inc. Announces Health Insurer Partner Extends the wellteq Digital Health Solution to All Australians

wellteq Digital Health Inc. Announces Health Insurer Partner Extends the wellteq Digital Health Solution to All Australians

  • nib (ASX: NHF) extends wellteq's digital health solutions to all Australians through the launch of GreenPass.

  • wellteq's digital health solution integrates its preferred partners, including Garmin (NASDAQ: GRMN) and other health provider partners, into the nib-customised digital wellness app to deliver several benefit pathways, from online health assessments, personalised content and rewards to expanding virtual care services.
  • Digital health is projected to be a USD 295.4 billion industry by 2028 with a compound annual growth rate (CAGR) of 15.1% from 2021 to 2028.
  • Asia-Pacific (APAC) is expected to register the fastest CAGR over the forecast period due to the rising usage of tablets, smartphones, and other mobile platforms across the region, which includes Australia, Japan, China, India, South Korea and Singapore.

WellteQ Digital Health Inc. (CSE: WTEQ) (OTCQB: WTEQF), (the "Company" or "wellteq"), is pleased to announce that one of Australia's largest health insurers, nib holdings limited (ASX: NHF), will now offer wellteq's digital health solution to all Australians, a population of over 25 million people.

nib Group (nib) is a trusted international health partner with over one million members across Australia. The launch of nib's GreenPass membership provides Australians with access to a range of exclusive health and wellness benefits without the need to take out a traditional health insurance product. The subscription-based service aims to empower more people to put their health and wellbeing first. Read more from nib's press release:

https://www.nib.com.au/media/2022/04/media-pages-nib-launches-unique-greenpass-health-membership

wellteq's digital health solution integrates its partners, including Garmin, Fitbit, Apple, and other health provider partners, into the nib-customised digital wellness app to help them deliver personalised content and healthy action nudges, gamification, rewards and more. nib's GreenPass membership enables non-private health insurance members to access several different benefit pathways, from personalised health plans, discounts on health and wellness services, rewards for reaching health goals through their well with nib app, an online skin check, fitness tracking and exclusive pricing with nib's network of trusted health professionals.

wellteq Chief Operating Officer, Jeames Gillett said: "wellteq has been working closely with nib for several years to evolve our shared ambition of providing personalised health and wellbeing at scale. We're incredibly excited to support nib in the launch of GreenPass as it extends access beyond private health insurance members to the wider Australian population. At a time when our health and wellbeing has been tested, access to GreenPass will provide individuals with an opportunity to have personalised support on their journey to better health."

Ed Close, nib Chief Executive Australian Residents Health Insurance said: "the GreenPass is a game-changer for the industry, designed to help more Aussies access the right tools, services and information they need to support their better health."

"By making membership as much about supporting good health as the treatment of sickness and injury we have an opportunity to play a bigger role in how we help more Australians to keep healthy and out of hospital,"

"With this in mind, we created nib GreenPass, which is intentionally created to empower people of all ages to better understand their health profile and offer health and wellness perks and services they can use every day to keep on top of their health."

This timely solution aligns with market projections1 that the global digital health industry will reach USD 295.4 billion by 2028, with a compound annual growth rate (CAGR) of 15.1% from 2021 to 2028. Asia-Pacific (APAC) is expected to register the fastest CAGR over the forecast period due to the rising usage of tablets, smartphones, and other mobile platforms across the region, which includes Australia, Japan, China, India, South Korea and Singapore.

Scott Montgomery, wellteq's Chief Executive Officer said: "when two companies missions align the synergies can create powerful things. nib's payer to partner strategy dovetails perfectly with wellteq's mission to coach healthier habits across the full continuum of healthcare. The manifestation of this synergy is GreenPass, a fantastic opportunity for anyone to try digital health tools at no cost and hopefully inspire them on a behaviour change journey that's good for them, good for nib and good for wellteq. The ideal win-win situation and another step towards proactive, equitable virtual care."

References

1. Digital Health Market Size, Share & Trends Analysis Report by Technology (Healthcare Analytics, mHealth), By Component (Software, Services), By Region, And Segment Forecasts, 2021 - 2028.

About WellteQ Digital Health Inc.

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:

https://wellteq.co/about/investors/

wellteq Investor Contact:
Glen Akselrod
Bristol Investor Relations
E: glen@bristolir.com
T: (905) 326-1888

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Wellteq Digital Health Inc. Launches North America Growth Division

Wellteq Digital Health Inc. Launches North America Growth Division

  • wellteq has appointed Mr Andrew Hvzid as Head of Growth, North America.
  • Based out of Toronto, Canada, Andrew Hvzid will be instrumental in accelerating wellteq's market share within the Corporate Wellness, Insurance and Health Provider sectors of Canada and North America, as well as leveraging the Company's existing distribution partners WTW (NASDAQ: WTW) and Garmin (NASDAQ: GRMN) in these new territories.
  • Mr Hvzid brings over a decade of executive experience in building strategic partnerships, identifying revenue-generating opportunities and optimising resources to propel growth across the health, fitness and education sectors.
  • Digital health is projected to be a USD 295.4 billion industry by 2028 with a compound annual growth rate (CAGR) of 15.1% from 2021 to 2028.
  • In 2020, North America accounted for the largest market share of the digital health industry at 38.77% and is expected to experience a steady CAGR over the forecast period.

WellteQ Digital Health Inc. (CSE: WTEQ) (OTCQB: WTEQF), (the "Company" or "wellteq"), is pleased to announce its strategic expansion into North America through the appointment of Mr. Andrew Hvizd as Head of Growth (NA) for the region. The Company recognises the importance of acquiring, developing and retaining top talent to drive commercial growth in the diverse and localised areas of the global digital health market - an industry that is projected to be valued at USD 295.4 billion by 2028[1].

As Head of Growth (NA), Andrew Hvizd will lead wellteq's go-to-market strategy in Canada and North America, enabling the Company's continued market expansion in the region. He will be instrumental in acquiring strategic partnerships and accelerating sustainable revenue growth, as well as leveraging wellteq's existing distribution partners, including WTW (NASDAQ: WTW) and Garmin (NASDAQ: GRMN), in these new territories.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Wellteq Digital Health Inc. Improves Nightly Sleep by 38 Minutes for Employees Across 13 Countries Study Published in US Medical Journal

Wellteq Digital Health Inc. Improves Nightly Sleep by 38 Minutes for Employees Across 13 Countries Study Published in US Medical Journal

  • WellteQ Digital Health Inc. (CSE: WTEQ) (OTCQB: WTEQF) has deployed the Company's sleep program in partnership with WTW (NASDAQ:WTW) to improve the sleep of employees within a large financial institution with operations in over 13 countries.

  • The Wellteq sleep program resulted in an improvement in sleep duration of an average of 38 minutes per night, as published in the Journal of Community Medicine & Public Health Care in the United States1.

  • McKinseyestimates that the cost of sleep deprivation towards burnout, exhaustion and depression is $680 billion per year in just five OECD countries, in the U.S. alone, 70M people are plagued with chronic insomnia2 (McKinsey, 2021).

  • Wellteq offers its corporate and insurance customers digital solutions across the four pillars of wellbeing - activity, nutrition, mental health and sleep. These evidence-based solutions are generating health outcomesand journal publications from the sub-clinical domain as the Company advances its digital solutions toward clinical settings.

  • Digital Health is a fast-growing market with projected CAGR of 25% to reach $660 billion by 20253 (Statistica, 2021).

WellteQ Digital Health Inc. (CSE: WTEQ) (OTCQB: WTEQF) (the "Company" or Wellteq"), which supplies digital health and wellness solutions to customers in 12 languages across 30 countries is pleased to announce the publication of "The Hidden Public Health Problem of Inadequate Sleep: Deploying Digital Mobile Technology to Improve Employee Sleep Hygiene in Asia" in the Journal of Community Medicine & Public Health Care published in the United States. The article was co-authored by WTW (NASDAQ:WTW) Regional Senior Consultant of Workplace Health and Wellbeing, Ms. Pheona Chua.

The results were drawn from across 13 nations, 8 enterprise markets and 529 participants and demonstrate a substantial and clinically meaningful improvement in nightly sleep duration achieved by 59% of employee participants. The weighted average sleep duration increase was 38 minutes of nightly additional sleep achieved. Based on an initial average sleep duration of 7 hours, this represents a 9% increase in weighted average nightly sleep duration. To view the study, visit:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Wellteq Chairman Appointed to the Order of Canada for Leadership in Digital Health

Wellteq Chairman Appointed to the Order of Canada for Leadership in Digital Health

  • Dr. Peter W. Vaughan, CM, CD, MA, MD, MPH, ICD.D, Chairman of the Board of Directors at WellteQ Digital Health Inc. (CSE: WTEQ) (OTCQB: WTEQF) has been appointed to the Order of Canada.
  • Recognised by the Governor General of Canada "for his contributions to Canada's health care system, and for his pioneering leadership in the establishment and advancement of digital health"
  • Digital Health market size projected at nearly 25% CAGR from 2019 to become a US$660 billion industry by 2025 (Statistica Research - July 2021)

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 the Company's Chairman, Dr Peter Vaughan, has been appointed to the Order of Canada by the Governor General of Canada.

The Governor General cited the appointment of Dr Vaughan "for his contributions to Canada's health care system, and for his pioneering leadership in the establishment and advancement of digital health".

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
continuum global solutions

Wellteq Digital Health Inc. Upcoming Investor Events

  • WellteQ Digital Health Inc. (CSE: WTEQ / OTCQB: WTEQF) is pleased to announce two upcoming investor events.
  • Wellteq will be hosting an Investor Webcast on November 10 th , 2021.
  • Wellteq will also be participating in the 3 rd Annual Canaccord Genuity Health & Wellness Conference on November 16 th , 2021

WellteQ Digital Health Inc. (CSE: WTEQ) (OTCQB: WTEQF) , (the "Company" or "Wellteq"), which supplies digital health and wellness solutions to customers in 12 languages across 30 countries is pleased to announce two upcoming investor events.

Wellteq Investor Webcast on Wednesday, November 10th, 2021

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Sirona Biochem Announces Debenture Financing

Sirona Biochem Announces Debenture Financing

Sirona Biochem Corp . (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) (" Sirona " or the " Company ") is pleased to announce a non-brokered private placement offering of unsecured, convertible debentures (the " Convertible Debentures "). The Company is offering Convertible Debentures units (the " Debenture Units ") at a price of $1,000 per Debenture Unit for aggregate gross proceeds of up to $1,500,000 (the " Offering ").

Each Debenture Unit will have a face value of (the " Face Value ") of $1,120, consisting of $1,000 in principal (the " Principal ") and $120 in prepaid interest (the " Prepaid Interest "). The Principal of the Debenture Units will accrue interest at a rate of 12% per annum, which accrued interest (" Accrued Interest ") will be paid semi-annually, in arrears. The Company will pay the Prepaid Interest and Accrued Interest in cash or, subject to TSX Venture Exchange (" TSXV ") acceptance, may elect to satisfy payment in kind by issuing Shares (" Interest Shares "). In the event of payment in kind, the number of Interest Shares due will be calculated using a conversion price (the " Interest Conversion Price ") equal to, subject to acceptance by the TSXV, the maximum Discounted Market Price (as defined in TSXV policies) on the applicable payment due date.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

AbbVie Advances Upadacitinib to Phase 3 Clinical Trials in Systemic Lupus Erythematosus

  • Results of the M19-130 (SLEek) Phase 2 trial of upadacitinib given alone or as a combination therapy (ABBV-599) met the primary endpoint of systemic lupus erythematosus (SLE) Responder Index (SRI-4) and steroid dose less than or equal to 10 mg prednisone equivalent once per day at week 24 in patients with moderately to severely active SLE 1 , 2
  • No new safety signals were identified with upadacitinib, and a similar safety profile was observed for the combination therapy (ABBV-599) as for treatment with upadacitinib alone 2, 3 , 4 , 5 , 6 , 7
  • SLE is a complex autoimmune disorder in which the body's immune system attacks healthy tissue of the musculoskeletal system, skin, kidneys, lungs and other critical organs, leading to symptoms such as fatigue, joint pain and impaired function. 8 , 9

ABBVie (NYSE: ABBV) today announced topline results from a Phase 2 study of upadacitinib (RINVOQ ® 30 mg) given alone or as combination therapy (ABBV-599) with a Bruton's Tyrosine Kinase inhibitor (elsubrutinib, 60 mg), once daily in patients with moderately to severely active systemic lupus erythematosus (SLE). 1 The SLEek study met the primary endpoint of SLE Responder Index (SRI-4) and steroid dose less than or equal to 10 mg prednisone equivalent once per day at week 24 in the upadacitinib 30 mg group. 1,2 Based on the results, ABBVie is advancing its clinical program of upadacitinib in SLE to Phase 3.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Risankizumab Achieves Primary and All Secondary Endpoints in Phase 3 Induction Study in Patients With Ulcerative Colitis

  • A significantly higher proportion of patients with moderately to severely active ulcerative colitis treated with risankizumab achieved the primary endpoint of clinical remission a (per Adapted Mayo Score) compared to placebo at week 12 in the Phase 3 INSPIRE induction study
  • All secondary endpoints, including clinical, endoscopic and histologic outcomes, were met
  • Safety results in this study were consistent with the known safety profile of risankizumab, with no new safety risks observed 1
  • Building on AbbVie's growing gastroenterology portfolio, risankizumab is an IL-23 inhibitor being evaluated as a treatment for adults with moderate to severe ulcerative colitis and approved for Crohn's disease, psoriatic arthritis, and psoriasis 1

ABBVie (NYSE: ABBV) today announced positive top-line results from INSPIRE, a Phase 3 induction study, showing risankizumab (SKYRIZI ® ,1200 mg intravenous [IV], at weeks 0, 4 and 8) met the primary endpoint of clinical remission (per Adapted Mayo Score) at week 12, as well as all secondary endpoints in adult patients with moderately to severely active ulcerative colitis. 1 In the study, 20.3% of patients receiving risankizumab achieved clinical remission compared to 6.2% of patients receiving placebo (p

"Our commitment to people living with gastroenterological conditions continues to grow," said Roopal Thakkar , M.D., senior vice president, development, regulatory affairs and chief medical officer, AbbVie. "These encouraging results help support the potential risankizumab has to improve clinical, endoscopic and histologic outcomes in patients with ulcerative colitis."

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Gilead Sciences Announces $3 Million in Grant Funding to Eight Organizations Addressing HIV Disparities in Rural U.S. Communities

Funding Will Reach Under-Resourced Communities Impacted by the HIV Epidemic as Part of Gilead's Zeroing In™: Ending the HIV Epidemic Grant Program –

Gilead Sciences, Inc. (Nasdaq: GILD) today announced it is providing a total of $3 million in grant funding to eight organizations to provide services to communities disproportionately impacted by HIV in rural areas in the United States. My Brother's Keeper, based in Ridgeland, Mississippi, will provide technical assistance and capacity building to the organizations funded through this initiative. These grants are part of Gilead's ongoing Zeroing In™ program to help end the HIV epidemic by supporting organizations working to improve the overall health and wellness of communities most impacted by the HIV epidemic.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

AbbVie Provides Regulatory Update on ABBV-951 New Drug Application

ABBVie (NYSE: ABBV) today announced it received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) for the New Drug Application (NDA) for ABBV-951 (foscarbidopafoslevodopa) for the treatment of motor fluctuations in adults with advanced Parkinson's disease.

In its letter, the FDA requested additional information about the device (pump) as part of the NDA review. The CRL does not request that AbbVie conduct additional efficacy and safety trials related to the drug. AbbVie plans to resubmit the NDA as soon as possible.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

BELLUS Health Reports Year 2022 Financial Results and Business Highlights

- Patient enrollment ongoing in the CALM Phase 3 program with topline data expected for CALM-1 in the second half of 2024 -

- Ended year with US$337.1 million in cash, cash equivalents and short-term investments; cash runway extends to the second half of 2025 and through expected topline results of both CALM-1 and CALM-2 trials -

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×