- The new Biomorphik app, integrated with MyFiziq’s (MYQ) technology, has been released on both the Google Play and Apple app stores in Australia
- The app allows users to scan themselves and track body composition changes, empowering them to make better decisions for their health and wellness
- Under the terms of the commercial contract, Biomorphik is aiming to deliver 100,000 active monthly users to MyFiziq
- Myfiziq is up 5.79 per cent, trading at $1.28 per share
The new Biomorphik app, integrated with MyFiziq’s (MYQ) technology, has been released on both the Google Play and Apple app stores in Australia.
The app allows users to scan themselves to track body composition changes, empowering the user to make better decisions regarding their health and wellness.
Under the terms of the commercial contract, Biomorphik is aiming to deliver 100,000 active monthly users to MyFiziq. If this undertaking is not met, MyFiziq has a right to terminate the agreements between the parties.
In line with the initial product release, Biomorphik will begin a comprehensive business-to-consumer marketing strategy to draw users to the new platform, with the first stage allowing people to monitor their bodies closely and pre-empt potential issues before they become prohibitive to the user’s health.
The Biomorphik app will offer both month-to-month and yearly payment options to consumers, with the app set to be released in South East Asia within the next three months.
Users can select from a monthly subscription of $22.99 per month for unlimited scans, or a yearly subscription payment option of $142.99 per year for unlimited scans. generally, a single Dexa body composition scan can cost up to $80.00.
“As mentioned prior to Christmas, the applications are now live and available for download. Nathaniel (CEO of Biomorphik) is programming a well-formulated marketing approach to the release over the first quarter of 2021,” Vlado Bosanac, Chief Executive Officer of MyFiziq, said:
“Once this commences, we will assist Nathaniel and Biomorphik with their campaign as needed. I believe this will be the first of the releases to take a more aggressive approach to the customer onboarding as it forms such an integral part of their customer journey and retention, through real data and supervision”.
Myfiziq is up 5.79 per cent, trading at $1.28 per share at 10:30 am AEDT.