- A health-centric mobile app, which fuses tech from body scanning specialist MyFiziq (MYQ) and Biomorphik, will be released next year
- The two companies had been targeting an accelerated November release, but delays have occurred due to a rush of new app applications
- MyFiziq now advises that the Biomorphik app has been registered for the Google Play and Apple App stores for release approval
- Android and iOS users in Australia will get first access to the technology before the app is rolled out across South East Asia
- MYQ has been guaranteed 100,000 active users onto the integrated platform in the first 12 months from launch
- Shares in MYQ are trading down a slight 0.79 per cent at $1.25 each
MyFiziq (MYQ) has announced the Biomorphik app, which incorporates the body scanning specialist’s technology, will be released early next year.
The two companies had been targeting a November release, after initially announcing when the agreement was first signed that it would launch in 2021.
However, in an update released to the market today, MYQ stated that delays have occurred due to a rush of new app applications.
Instead, both businesses will push ahead with their original release date, with the app now registered on Google Play and Apple App stores for release approval.
The Biomorphik app works as a pre-emptive health platform, designed to manage wellness and reduce the overall health care cost for users and governments.
MyFiziq’s body tracking technology will be integrated into the app to better help monitor and manage the user’s health and fitness.
Australian iOS and Android users will get first access to the Biomorphik app early next year, before it’s pushed into wider South East Asian markets.
A range of app enhancements are planned for 2021, including the introduction of MyFiziq’s CompleteScan technology early next year.
MYQ has been guaranteed 100,000 active users onto the integrated platform in the first 12 months from launch, or it can walk away from the agreement.
“It has been a pleasure working with the Biomorphik team to accelerate this release as Biomorphik has experienced a surge of new business interest in Asia due to the COVID-19 pandemic,” MYQ CEO Vlado Bosanac said.
“The accelerated product has been simplified to address this increased demand and will initially only include MyFiziq technology offering whilst Biomorphik concludes the updated offer with the Biomorphik wellness and health advisory capabilities,” he added.
Next steps for MYQ and Biomorphik will involve commencing work on creating multi-language support for the app as well as a widespread business to consumer (B2C) marketing campaign ahead of the release.
Shares in MyFiziq are trading down 0.79 per cent in the red at $1.25 per share at 12:00 pm AEDT.