Now more than ever, mental well-being in the workplace is more important than ever. With the pandemic, family, work, and declining mental health issues around the world, companies are quickly waking up to their employee needs. That’s helping to fuel growth for companies such as Wellteq Digital Health Inc. (CSE:WTEQ), Garmin Ltd. (NASDAQ:GRMN), Peloton Interactive (NASDAQ:PTON), 1Life Healthcare Inc. (NASDAQ:ONEM), and WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF).
In addition, according to The Washington Post, “More than half of employers surveyed late last year already were providing special emotional support for their workforces. In the latest Principal Financial Well-Being Index SM, mental health/well-being was the most popular category of employee benefits to add or increase among the employers surveyed. Mental health benefits improve employee morale and can have an impact on a business’s bottom line. A 2018 academic study showed employees suffering both mental and physical disorders can double or triple healthcare costs.
Look at Wellteq Digital Health Inc. (CSE:WTEQ) for example
Wellteq Digital Health Inc. is a corporate wellness platform paid for by employers, insurers, and health-providers. It also provides employers and employees with actionable health recommendations, ongoing support and coaching with medical professionals.
The company just announced it has launched a comprehensive health and wellness solution in cooperation with Garmin International, Inc., a unit of Garmin (NASDAQ:GRMN) and Singapore health and fitness leader UFIT.
As employers in a growing number of countries are welcoming their employees back to office environments, they can now take innovative approaches to helping protect the health of their staff with a range of individual wellbeing and organizational benefits. The combined services of Wellteq’s employee wellness platform and Garmin wearables with UFIT’s virtual and in-person health and fitness services - including group classes and 1:1 training sessions caters to almost all employee wellness preferences and needs. Supporting the health and wellbeing of employees has never been such an important topic as it is for our return to a new normalcy as we respond and start to recover from the pandemic.
Wellteq CEO Scott Montgomery stated, “Corporate wellness has long been offered in silos, but we’re now able to integrate analog fitness services with Wellteq’s digital wellness platform and Garmin wearables for a hybrid solution that meets the needs of everyone. Some people prefer exercise in a group for motivation, others at home for privacy, but almost all want insights based on data from their wearable. Garmin wearables are renowned for best-in-class quality in their hardware and data which is why users highly value their products. Wellteq is delighted to integrate UFIT for a truly holistic offering. Thanks to Wellteq’s privacy settings, we can share anonymized, data-driven insights to our client administrator and optimize the offering for their employees. It is a win/win for everyone. We are very excited at the prospects this combined platform offers across the region and internationally.”
“We are excited about the expansion of Wellteq’s platform to incorporate more Garmin wearable data via integration of the Health API, from activity details, steps, sleep, heart rate and stress,” said Karthik Jayaseelan, Garmin’s South East Asia & India Sales Manager. “This new platform will help employees manage their wellbeing and track their personal progress through training sessions.”
UFIT CEO Will Skinner stated, “We are enormously excited to have launched this groundbreaking corporate initiative, especially during a time with so many ‘unknowns’. Throughout the whole process, it was essential that we stayed true to our vision of housing the world’s most vibrant health and fitness community, and via our integrated approach combining: Wellteq’s 24/7 connectivity, Garmin’s supreme health data, and our gym facility and community management experience, we have been able to build a holistic programme that is now thriving in the ever adjusting office environment we see today.”
Other related developments from around the markets include:
Garmin Ltd.’s unit, Garmin International Inc. announced the Venu® 2 and Venu 2S GPS smartwatches aimed at helping customers live a better, healthier life. New fitness age and sleep score join a robust portfolio of all-day health monitoring features that provide users with deeper and more meaningful insights into their overall wellness. Find more ways to move with 25+ built-in sports apps with enhanced graphics and new activity profile details that come to life on the bright AMOLED display.
Peloton Interactive will release its third quarter fiscal 2021 results after the U.S. stock market closes on Thursday, May 6, 2021. The Company will hold a conference call to discuss results at 5:00 p.m. (Eastern Time) that day.
1Life Healthcare Inc. announced that its first quarter 2021 results will be released on Wednesday, May 12, 2021, after the close of the market. The company will host a conference call on the same day at 1:30 p.m. (PT) / 4:30 p.m. (ET) to discuss its financial results.
WELL Health Technologies Corp. and CRH Medical Corporation are pleased to announce the successful completion of their previously-announced business combination today, pursuant to which WELL has acquired all of the issued and outstanding common shares of CRH for US$4.00 per share in cash, representing an equity consideration of approximately US$286.6 million and a transaction value of approximately US$372.9 million, inclusive of CRH’s credit facility.
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