MELBOURNE, Australia, June 30 (Bernama-AsiaNet) --MyFiziq Limited (ASX:MYQ) (MyFiziq) is pleased to announce that it has entered into a ground-breaking Joint Venture (JV) with Gold Quay Capital Pte Ltd Singapore (GQC Singapore) worth an initial $5 million.
MyFiziq CEO, Vlado Bosanac will be in Singapore Monday 3rd and Tuesday 4th of July and will be available for interview.
Under the JV, the parties will work together to develop and deliver a revolutionary diagnostic tool for the medical sector, allowing an up to date record of the patient's body composition to be directly uploaded to their medical practitioner's or insurers records.
The first application (app) to be developed using the MYQ technology will deliver body shape along with body fat estimates. The goal is for this technology to replace out of date body mass index (BMI) as a measure of an individual's body composition for the health and life insurance sector.
Vlado Bosanac, CEO of MyFiziq, said:
"This joint venture shows real confidence in our world leading technology that has been developing here in Western Australia. MyFiziq is making strong progress in the fitness industry, which is worth $700 billion a year."
Barry E. Dick, CEO of GQC Singapore said:
"We are excited to embark on this journey with MyFiziq and our investors.
Unleashing the technology of the MyFiziq mobile platform, combined with cutting edge body composition technology, will revolutionise how insurers and health care organisations monitor an individual’s health and put in place programs for early disease prevention."
About MyFiziq
MyFiziq Limited (ASX: MYQ) equips users with the tools to track their personal progress towards their goals over time, whether that’s fat loss, muscle gain, or maintaining their current physique.
MyFiziq adds science to this art to create a holistic approach to measuring, tracking, and most importantly, seeing changes to your body shape over time.
Body measurements provide more useful information about shape changes than simply measuring weight or BMI. But until now, body measurements have required a tape measure, creating a potential for error.
MyFiziq removes this margin of human error to help users keep track as they smash through limits and achieve their goals.
For more information please visit: www.myfiziq.com
TO ARRANGE AN INTERVIEW or for more information contact:
Rod North, Managing Director
Bourse Communications Pty Ltd
T: +613 9510 8309 M: +61 408 670 706
E: rod@boursecommunications.com.au
SOURCE: Bourse Communications
--BERNAMA
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