• wellteq has appointed Mr Andrew Hvzid as Head of Growth, North America.
• Based out of Toronto, Canada, Andrew Hvzid will be instrumental in accelerating wellteq's market share within the Corporate Wellness, Insurance and Health Provider sectors of Canada and North America, as well as leveraging the Company's existing distribution partners WTW (NASDAQ: WTW) and Garmin (NASDAQ: GRMN) in these new territories.
• Mr Hvzid brings over a decade of executive experience in building strategic partnerships, identifying revenue-generating opportunities and optimising resources to propel growth across the health, fitness and education sectors.
• Digital health is projected to be a USD 295.4 billion industry by 2028 with a compound annual growth rate (CAGR) of 15.1% from 2021 to 2028.
• In 2020, North America accounted for the largest market share of the digital health industry at 38.77% and is expected to experience a steady CAGR over the forecast period.

Vancouver, British Columbia--(Newsfile Corp. - March 31, 2022) - wellteq Digital Health Inc. (CSE: WTEQ) (OTCQB: WTEQF), (the "Company" or "wellteq"), is pleased to announce its strategic expansion into North America through the appointment of Mr. Andrew Hvizd as Head of Growth (NA) for the region. The Company recognises the importance of acquiring, developing and retaining top talent to drive commercial growth in the diverse and localised areas of the global digital health market - an industry that is projected to be valued at USD 295.4 billion by 2028^[1].

As Head of Growth (NA), Andrew Hvizd will lead wellteq's go-to-market strategy in Canada and North America, enabling the Company's continued market expansion in the region. He will be instrumental in acquiring strategic partnerships and accelerating sustainable revenue growth, as well as leveraging wellteq's existing distribution partners, including WTW (NASDAQ: WTW) and Garmin (NASDAQ: GRMN), in these new territories.

"I'm excited to drive wellteq's expansion into Canada and North America by leveraging my executive experience in building strategic partnerships, identifying revenue-generating opportunities and optimising resources to propel growth across the health, fitness and education sectors," said Mr Hvizd. "We will pursue partnerships in the private and public markets to increase wellteq's distribution channels and launch innovative, first-to-market program offerings that extend the continuum of care into clinical solutions and remote patient monitoring.

"As I join the digital health space, the industry is poised to deliver meaningful and scalable health outcomes through accessible health and wellness programming based on when and how users want to consume it."

wellteq Chief Growth Officer, Olly Bridge added, "we are thrilled to have secured Andy as our Head of Growth (NA), he has a proven track record of delivering outstanding results and is that perfect blend of skills and personality fit with wellteq. The market is crying out for the kind of support that the wellteq platform provides and having someone like Andrew take it to market is going to be sensational."

The global digital health market is expected to experience a compound annual growth (CAGR) rate of 15.1% from 2021 to 2028. North America accounted for the largest market share of the industry at 38.77% in 2020 and is projected to expand at a steady compound annual growth (CAGR) rate over the forecast period.

wellteq Chief Executive Officer, Scott Montgomery said, "wellteq has been designed to expand its B2B digital health services from APAC to become global, and within its inception sector of Corporate Wellness through to Virtual Care. The strategic plan is simple and has remained unchanged for years, its equal parts gratifying and exciting to see this plan unfold by expanding into North America, the most mature digital health market on the planet.

"I'm delighted wellteq can attract talent with the calibre of Andrew, and already impressed with how he's activated his network with our proposition. I have no doubt wellteq's North American business will grow strongly under his and Olly's leadership."

References

1. Digital Health Market Size, Share & Trends Analysis Report by Technology (Healthcare Analytics, mHealth), By Component (Software, Services), By Region, And Segment Forecasts, 2021 - 2028.

About Wellteq Digital Health Inc.

Wellteq Digital Health Inc. is a leading global provider of personalized digital health and wellness solutions across the continuum of care. To learn more, visit https://wellteq.co/.

Download the wellteq Corporate Presentation:

https://wellteq.co/about/investors/

wellteq Investor Contact:

Glen Akselrod
Bristol Investor Relations
E: glen@bristolir.com
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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118742