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MyFiziq's definitive agreement with Active8me further opens up Asian health and wellness market
4 minute read
MyFiziq Limited (ASX: MYQ) has signed definitive agreements with Active8me Pte Ltd which will see the integration of the MyFiziq platform into the Active8me health and wellness platform.
Active8me simplifies healthy, active living in a unique all-in-one mobile platform that incorporates all aspects of healthy living: exercise, nutrition, mindset, and tracking. The app is available via the app store and Google Play.
Active8me is a solution for tackling chronic diseases and an engaging SaaS solution for partners, including insurers, telehealth, mHealth, healthcare providers, corporates, governments, and some of Asia’s largest telecommunications companies.
Founded by two-time Olympian Jeremy Rolleston, Active8me has partners spanning the broader Asia region, which gives MyFiziq the opportunity to tap into millions of potential users of the combined application.
This is a good fit with MyFiziq as it progresses towards globalising its technology which assists individuals, communities and populations to live better healthier lives by working with governments, healthcare providers, and the best health and fitness identities.
The group’s solutions are available worldwide as the data is in the palm of the user’s hands.
MyFiziq’s software as a service solution (SAAS) offering allows flexibility and pricing scale reductions for its partners.
The company partners with highly scaled or scalable new and existing applications and provides them with a deeper insight into the data they wish to retrieve from their users to empower them in their journeys.
Active8me focuses on fitness, nutrition and health
Jeremy Rolleston, has brought together a raft of fitness, nutrition and health experts including dual Olympians Duncan Harvey, Ben St Lawrence and Johanna Lyle, together with Fay Hokulani, Nikki Torres and Jaclyn Reutens, to curate proven programs and customised plans that users can follow to take control of their fitness, health and wellness.
Their range of programs includes Lose Weight, Lean Fit & Toned, Diabetes Prevent, Post Baby, and Running.
The Active8me team has used its industry knowledge and expertise to craft a broad offering that spans multiple lifestyles and personal needs.
It is a one-stop offering with all facets approached on an individual and mass participation needs.
“Active8me is my way of taking all the knowledge I have gained over many years (including as an Olympic athlete and stressed and busy businessman) and, together with a team of other incredible experts, putting it all in an app that gives you a total integrated solution across exercise, nutrition, mindset and holistic health for your real, everyday life. It’s convenient. It’s practical. It’s mobile. It’s a total solution all in one place. It’s great value for money. It’s built with passion by real experts.And it works,” Rolleston says.
The concept of training and setting goals with peers, while at the same time being able to engage privately on whatever level of fitness being commenced is a key advantage as users have varying views on sharing their fitness profiles and training regimes.
Active8me and MyFiziq have agreed to integrate MyFiziq’s body tracking application into the Active8me platform.
The companies are working towards a September quarter 2020 launch with the integrated product along with a comprehensive campaign targeting the current Active8me users and partners.
It is proposed that MyFiziq will be an integral part of the Active8me offering, being a key element for onboarding every user while increasing engagement both during the initial touchpoint of their subscription and then throughout their journey with Active8me as they track their progress.
Governments and insurers have vested interest in a healthy population
Governments, insurers, healthcare providers and consumers are increasingly recognising the rising risks from chronic disease and especially type 2 diabetes disease in Asia.
Identifying those at higher risk of chronic disease and then providing those individuals with comprehensive, integrated and customised plans that they can follow across exercise, nutrition and wellness in a single application provides a convenient expert solution to a problem facing over 40% of the population in Asia.
Additionally, the demand for scalable, digital, at-home health and wellness solutions has never been as significant as now, against a backdrop of Covid-19 quarantine and self-isolation lockdowns.
Active8me and MyFiziq are well positioned to provide helpful solutions to this problem.
The combination of measurement and risk identification, together with actionable and customised programs and plans is a powerful offering.
MyFiziq and Active8me have agreed to the commercial terms of the partnership which will form part of the formal agreements to be concluded in the next 60 days. The initial agreement is for one year, with the option to extend.
The LOI is binding and has no immediate economic impact to MyFiziq.
However, following product launch and anticipated user take up, the LOI and formal agreements that will follow should generate revenue and profit for MyFiziq.