Wellteq Digital Health Inc. Partners With Top Global University to Commercialise Sleep Research

Rhea-AI Summary

Wellteq Digital Health (CSE: WTEQ / OTCQB: WTEQF) has signed a Letter of Intent with Monash University to commercialize advanced sleep technology targeting insomnia, fatigue, and burnout among shift workers. With the global sleep market projected to reach USD 137.16 billion by 2026, Wellteq aims to integrate this technology into its existing health solutions for various sectors, including aviation and healthcare. Monash University, a leading research institution, has developed the sleep technology over seven years, holding a patent application for it.

Positive

• Wellteq has partnered with Monash University to commercialize innovative sleep technology.
• The global sleep market is projected to reach USD 137.16 billion by 2026, indicating strong market potential.
• Commercialization will focus on sectors with high risk of sleep-related issues, enhancing Wellteq's health solutions.

Negative

• None.

• Wellteq Digital Health Inc. (CSE: WTEQ / OTCQB: WTEQF) has signed a Letter of Intent (LOI) to commercialise sleep technology developed by Monash University, Australia to combat fatigue, insomnia, and burnout in shift worker employees.
• Global Sleep Market Size to Reach Revenues of USD 137.16 Billion by 2026¹
• Wellteq intends to integrate this intellectual property (IP) along with its recently announced licensed sleep technology into the Company’s existing health assessment and coaching capabilities and create a market leading sleep and fatigue solution for employers and insurers globally.
• Commercialisation efforts will initially focus on the aviation, healthcare, mining and construction sectors where workers are at heightened risk of excessive sleepiness at work and insomnia at home.
• 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.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- 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 an executed letter of intent for a Strategic Partnership to commercialize research and intellectual property for sleep assessment and coaching solutions with Monash University, Australia.

Monash University’s Turner Institute for Brain and Mental Health, Deputy Director Professor Shantha Rajaratnam said: “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.”

Scott Montgomery, CEO of Wellteq, commented: "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.”

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.

https://www.sciencedirect.com/science/article/pii/S2667193X21000016?via%3Dihub

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 time². It’s no wonder sleep market revenues are projected to exceed US$137 billion by 2026¹.

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.

The Turner Institute for Brain and Mental Health is one of Australia's largest Institutes for brain and mental health and is based at Monash University. The Turner Institute’s mission is to optimise brain and mental health through community driven, world leading research and innovative solutions.

About Monash University

Monash University is Australia’s largest university with more than 80,000 students. In the 60 years since its foundation, it has developed a reputation for world-leading high-impact research, quality teaching, and inspiring innovation. With four campuses in Australia and a presence in Malaysia, China, India, Indonesia and Italy, it is one of the most internationalised Australian universities.

As a leading international medical research university with the largest medical faculty in Australia and integration with leading Australian teaching hospitals, Monash consistently rank in the top 50 universities worldwide for clinical, pre-clinical and health sciences. To learn more, visit monash.edu

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/

1. Arizton Advisory & intelligence Sleep Market Report - Global Outlook and Forecast 2021-2026
2. Rand Corporation – 2016 https://www.rand.org/news/press/2016/11/30.html

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.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20211026005728/en/

Wellteq Investor Contact:

Glen Akselrod

Bristol Investor Relations

E: glen@bristolir.com

T: (905) 326-1888

Source: Wellteq Digital Health Inc.

FAQ

What is the recent partnership of Wellteq Digital Health Inc. about?

Wellteq Digital Health Inc. has signed a Letter of Intent with Monash University to commercialize sleep technology aimed at reducing insomnia, fatigue, and burnout in shift workers.

How much is the global sleep market projected to be worth by 2026?

The global sleep market is projected to reach USD 137.16 billion by 2026.

Which sectors will Wellteq target for its sleep technology commercialization?

Wellteq plans to focus on sectors such as aviation, healthcare, mining, and construction for its sleep technology commercialization.

What has Monash University contributed to Wellteq's recent announcement?

Monash University has developed the sleep technology over seven years and holds a patent application, which Wellteq will commercialize.