Wellteq announces strategic partnership in Spain with Frontier Wellness Management / Apotheek Pharma Consulting
- Wellteq (CSE.WTEQ) (OTC.WTEQF) signs a letter of intent (LOI) detailing the terms and conditions of a strategic partnership agreement with Frontier Wellness Management and its operating subsidiary Apotheek Pharma Consulting (FW-APC).
- FW-APC focuses on the commercialization of health and wellness solutions through its unique network of 140,000 healthcare professionals in the healthcare, pharmacy and pharmacy markets in Spain.
- Under the expected terms of a formal strategic partnership agreement, FW-APC will pay an initial sum of 100,000 euros to Wellteq, which will be devoted to localization, development and integration. Wellteq is expected to be paid by each customer in accordance with User Software as a Service (SaaS) pricing.
- In conjunction with Wellteq’s sales and marketing staff, FW-APC will immediately begin marketing the Wellteq application into FW-APC’s existing customer list.
- Wellteq will also be responsible for researching and integrating third-party applications as part of the strategic partnership.
DO NOT DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES BROADCAST
WellteQ Digital Health Inc. (CSE: WTEQ) (OTC: WTEQF) (the “Company” or “Wellteq”) is pleased to announce that the Company has signed a letter of intent (the “LOI”) detailing the terms and conditions a partnership with Frontier Wellness Management and its operational subsidiary Apotheek Pharma Consulting (FW-APC) in the European Union.
The FW-APC team has 100 years of experience focused on commercializing health and wellness solutions in their unique network of 140,000 healthcare professionals in the healthcare, pharmacy and pharmacy markets in Spain.
Upon signing a formal strategic partnership agreement, FW-APC will advance EUR 100,000 to Wellteq. This amount will be applied to the localization, development and integration of applications. Together with Wellteq’s sales and marketing staff, FW-APC will immediately launch the marketing of the Wellteq smartphone app, in conjunction with Wellteq’s sales and marketing staff, to existing FW-APC customers. . FW-APC will ensure that white label solutions of Wellteq applications are identified as “powered by Wellteq”.
Wellteq will be the technology partner for any required development of the Wellteq solution and for the provisioning and integration of third party applications / solutions. When ancillary revenue is generated through the deployed offerings, the parties are expected to agree on an equitable distribution of revenue streams between FW-APC, Wellteq and any integrated third party solution partner.
Wellteq is launching European distribution ahead of schedule as part of its geographic expansion plans, reinforcing the market’s need for global digital health platforms.
“The Spanish healthcare system is more focused on prevention than treatment compared to most jurisdictions, and Wellteq fits perfectly into this system while providing significant economic benefit to companies that adopt the platform,” said John MacPhail, CEO of Frontier Wellness.
“The pandemic has created demand from our customer network to improve and increase their digital presence not only for their customers but also for their employees. Wellteq provides a truly unique and universal solution to these needs, ”said Carles Deulofeu, Managing Director of Apotheek Pharma Consulting.
Scott Montgomery, CEO of Wellteq, said: “Working with Frontier / Apotheek provides a unique and immediate marketing, sales and revenue opportunity for Wellteq’s digital health and wellness solutions and accelerates our entry into the European Union through a strategic partnership with an organization that already has an incredibly deep network of relationships. ”
About Frontier Wellness
Frontier Wellness Management is the parent company of Apotheek Pharma Consulting, a company specializing in the commercialization of health and wellness solutions through its unique network of 140,000 healthcare professionals in the healthcare, pharmaceutical and of pharmacy in Spain (ranked “Healthiest country in the world” by Bloomberg in 2019). Barcelona-based Apotheek works with strategic partners to secure, develop and commercialize innovative and potentially disruptive health and wellness products and technologies across its vast network. Apotheek’s main services include technology purchasing, systems analysis, software integration, operational analysis, product integration, market research, regulatory affairs, marketing and management. Sales.
About WellteQ Digital Health Inc.
WellteQ Digital Health Inc. is a leading provider of enterprise wellness solutions developed to provide personalized, data-driven health and wellness coaching to engage its users in healthier behaviors. . As a business-to-business model, Wellteq currently has two main customer sectors: employers and insurance companies. Wellteq has secured a large multinational portfolio of clients, including UBS, DBS and Bupa Insurance, and reseller partners, such as Willis Towers Watson, Advanced Human Imaging and Garmin. Wellteq is developing its new Internet of Medical Things (IoMT) platform for virtual care applications, which will extend the Wellteq continuum of care from preventive wellness to virtual health care.
| Investor contact:
|Contact Sales and Partnerships:|
Caution regarding forward-looking statements:
This press release contains information or statements that constitute “forward-looking statements”. Such forward-looking statements involve risks, uncertainties and other known and unknown factors which may cause actual results, performance or achievements or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such statements. prospective. Forward-looking statements are statements which are not historical facts and which are generally, but not always, identified by words such as “expects”, “anticipates”, “anticipates”, “believes”, “has the” intention ”,“ estimate ”,“ plans ”,” “Potential” and similar expressions, or that events or conditions “will”, “would occur”, “could”, “could” or “should” occur.
Forward-looking information may include, without limitation, statements regarding operations, activities, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, objectives ongoing, Wellteq’s milestones, strategies and outlook, and include statements on, 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 for the future, and readers are cautioned that such statements may not be appropriate for other purposes. These statements should not be interpreted as guarantees of future performance or results.
The forward-looking statements made in this press release are based on management’s assumptions and analysis and other factors on which management may rely in making conclusions and making forecasts or projections, including management experience and assessments of historical trends, current conditions and future prospects. developments. Although management believes that these assumptions, analyzes and assessments are reasonable at the time the statements contained in this press release are made, actual results may differ materially from those projected in the forward-looking statements. Examples of risks and factors that could cause actual results to differ materially from forward-looking statements may include: timing and unpredictability of regulatory actions; regulatory, legislative, legal or other developments relating to its operations or activities; limited marketing and sales skills; early stage of industry and product development; limited products; the use of third parties; advertising or unfavorable consumer perception; general economic conditions and financial markets; the impact of growing competition; the loss of key management personnel; capital and liquidity requirements; access to capital; the timing and amount of capital expenditures; the impact of COVID-19; changes in demand for Wellteq products and market size; patent law reform; patent and intellectual property litigation; conflicts of interest; and general market and economic conditions.
The forward-looking information contained in this press release represents Wellteq’s expectations as of the date of this press release and, therefore, is subject to change after this date. Readers should not place undue importance on forward-looking information and should not rely on such information as of any other date. Wellteq assumes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, change.
CSE has neither approved nor disapproved of the contents of this press release.