MyFiziq CompleteHealth app soon to be released
Positive news continues to flow from MyFiziq Limited (ASX:MYQ) with management providing an update today on progress and designs of the new and soon to be released CompleteHealth application with Canadian based NuraLogix Corporation.
As a backdrop, MyFiziq has developed and patented a proprietary dimensioning technology that enables its users to check, track and assess their dimension using only a smartphone privately and accurately.
This technology has attracted other players in adjacent industries, resulting in the negotiation of agreements to work together to develop compelling new products.
These developments have seen the company’s shares increase four-fold since March.
MyFiziq signed a Memorandum of Understanding (MoU) with Canadian base Nuralogix Corporations in mid-June, and this was the key focus of today’s update.
Under the MoU, MyFiziq will be designing and developing the integrated offering, with a view to initially releasing it to only two organisations for testing and evaluation.
Demand from multiple industries
MyFiziq has had an influx of inquiries from telehealth, wellness, pharmacy chains, diabetes management organisations and insurers to the extent that the companies have agreed to make the application available to a greater number of these groups than previously anticipated.
The non-invasive combined solution delivers complete privacy to the consumer, which culminates in the individual being given assessments on multiple levels.
These include health indicators such as blood-pressure, heart rate, body shape ratios and a person’s propensity to develop cardiovascular conditions and type II diabetes.
Not including the current pandemic, this culmination of conditions form up to 70% of deaths globally each year,
Management said that it will allow an option for an individual to engage in an in-app COVID-19 symptoms analysis, which has been developed and tested by NuraLogix in collaboration with St. Michael’s Hospital, University of Toronto, and Zhongda Hospital in China to produce an AI-based model which is trained and tested on the symptom’s profiles of COVID-19 patients.
The model would predict the likelihood of someone having COVID-19 versus seasonal flu or cold.
Commenting on these developments, chief executive Vlado Bosanac said, “The team has done an exceptional job designing the new application, which will be called CompleteHealth.
‘’I am extremely pleased with the amount of interest this has generated, effectively validating our initial thoughts on the value we will bring to communities by combining these solutions.
‘’Importantly, we are identifying several chronic disease markers that have severe implications, should the user be exposed to COVID-19.
‘’The comorbidities such as obesity, type 2 diabetes, respiratory disease and cardiovascular disease that are being identified through the process are important information for the user to consider upon the evaluation being completed.”