- Wellteq launches beta production of the HealthHub, a hardware and API as a service offering which extends Wellteq’s digital health solutions beyond corporate wellness and insurance and into primary virtual care.
- The Health Hub and API form the foundation for Wellteq’s condition management and virtual primary care platform, called “Wellteq Plus.”
- The HealthHub houses an 8-core processor, large memory footprint, and a versatile machine-learning secondary processor that supports Natural Language Processing (NLP) and auto update models for artificial intelligence (AI).
- The HealthHub’s custom wireless chipset and optimized firmware stack enables support of 500+ connected devices simultaneously, offering utility to a range of clinical and remote virtual care settings.
- Wellteq has also secured a partnership with a global end-to-end manufacturing, logistics, and warranty provision and management company, enabling cost efficient fulfilment to customers globally.
VANCOUVER, British Columbia, April 29, 2021 (GLOBE NEWSWIRE) — Wellteq Digital Health Inc. (CSE:WTEQ), (the “Company” or Wellteq”) is pleased to announce the Company has launched beta production of its new Internet of Medical Things (IoMT) HealthHub and API as a service offering, targeting commercial release later this year.
At Wellteq, we are leveraging the IoMT to fast track our capabilities within condition management and virtual primary care. We call our IoMT condition management and virtual primary care platform Wellteq Plus. Together, the Wellteq mobile application and the Wellteq Plus IoMT platform follow the user across the continuum of care, from wellness to virtual primary care.
The HealthHub is an entirely new IoMT platform developed by Wellteq, which can connect, manage, and monitor any standardized 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. Edge computing augments and expands the possibilities of today’s primarily centralized, hyperscale cloud model 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.
The HealthHub has been built upon Wellteq’s next generation “Unified API” which allows for secure remote monitoring and management and enables 3rd party integrations with all aspects of the HealthHub and API, such as Amazon’s Prime Health, Google Health and Microsoft Health with its’ newly acquired Nuance natural language processing (NLP) capability, allowing the HealthHub to be an integral value add for both new and existing ePHI systems. (ePHI, or electronic Protected Health Information, is any protected health information that is created, stored, transmitted, or received in any electronic format or media.) Wellteq’s Unified API will service Wellteq’s client applications as well as the HealthHub and other IoMT (and IoT) hardware devices and will also be delivered as a standalone “API as a Service” product. All the features and functionality delivered through Wellteq’s client applications and hardware will be offered as standalone services for clients and partners to integrate with their own applications, services, and systems. This includes IoMT metrics capture, processing, and automations, wellness tracking with personalized digital coaching, reward scheme management, social activities and interactions, news feeds and more.
A powerful 8-core processor, large memory footprint, and a versatile machine-learning secondary processor enable the hub to handle a wide variety of services, including NLP and auto-updated training models for 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 500+ connected IoMT and/or IoT devices simultaneously. In comparison, most digital health device deployments currently rely on the user’s mobile phone for connectivity with a small number of devices.
In addition, Wellteq now also has the capability to completely fabricate hardware prototypes in-house, through its recently completed prototype lab. Utilizing the same industrial machines that the U.S. Air Force, CIA, and Department of Justice use for rapid prototyping and first run production builds, Wellteq will be able to iterate in days instead of weeks or months.
Daniel Starbuck, Wellteq’s CTO stated, “In this early stage of bringing prototype production in house, Wellteq has already seen huge impacts on current hardware designs. By bringing the production of manufacture grade prototypes under the preview of our engineers, Wellteq has been able to make decisions on hardware designs that will significantly reduce the gross cost of production. This internal prototype production capability gives Wellteq the ability to quickly adjust to market needs.”
Wellteq has also secured a partnership with a global end-to-end manufacturing, logistics and warranty provision and management entity which is expected to bring further significant cost benefits and reduce Wellteq’s overhead in delivering its IoMT solution to end users.
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.
Wellteq Investor Contact:
Bristol Investor Relations
E: [email protected]
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 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df8875c5-d730-4bd4-a8b4-d32439ce15de