ASX Announcement
Thursday 11th April 2019
MyFiziq Signs Binding Term Sheet with
Evolt360 Technologies
Highlights
•Strategic partnership signed with Evolt360 IOH Pty Ltd.
•MyFiziq will be integrated into the Evolt platform, a
•Evolt has over 500,000 active users paying
•Evolt currently has over 500 active locations and thousands of users a month.
•Evolt has new orders in excess of 4,000 units worldwide.
•Evolt is an approved medical grade device.
MyFiziq Limited (ASX: MYQ) (MyFiziq) is pleased to announce the signing of a binding term sheet with Evolt360 IOH Pty Ltd (Evolt), which will see the MyFiziq platform integrated into the Evolt platform and consumer application (app).
Evolt is a
Current locations are processing between
Evolt and MyFiziq have agreed to integrate MyFiziq’s revolutionary body tracking application into the Evolt application. The companies have agreed a July 2019 launch with the integrated product, along with a comprehensive campaign targeting the current Evolt users. Evolt’s current 500,000 + active user base will be able to track changes in their body dimension more regularly, and in the privacy of their own home, by using the MyFiziq technology between
Unit 5 |
Mail to | P.O. Box 190 | South Perth | WA | 6951
ABN 85 602 111 115 | MyFiziq.com
ASX Announcement
Thursday 11th April 2019
It is proposed that MyFiziq will be an integral part of Evolt’s offering and a key point of difference to other platforms allowing a direct to consumer advantage. Evolt is focused on partnering with companies, facilities and organizations, that are looking to grow their revenue stream via a true value add for their members and consumers.
Under the binding term sheet, Evolt will target its current 500,000 active users to achieve an initial 100,000 subscribers onto the joint offering in the first 12 months. MyFiziq will receive $2.99 per month per user based on a
The MyFiziq pricing model below forms part of the binding term sheet, and as previously outlined has been structured to create customer retention and low friction over a
This model is further explained below:
Vlado Bosanac, Chief Executive Officer of MyFiziq, said:
“The partnership with Evolt is going to be a very interesting and disruptive move on Evolt’s behalf. Most companies in the
Edward Zouroudis,
“We are very excited to be the first on site body scanning technology to partner with MyFiziq and bring the combined application to the market. When I first saw the technology in late 2018, I earmarked the MyFiziq technology to become a strategic partner as we acquired and grew our current offering within the hundreds of locations, we have actively using our technology. Many companies’ applications suggest they have the same capabilities as MyFiziq, yet when put to task, we haven't found anything with the mobility, ease, and functionality that the MyFiziq technology offers.
I am extremely confident this is the future of digital dimension, having the ability to place it in the palm of the consumers hand and is highly complementary to our offering and strategic direction. With a target of 100,000 active monthly users and the current order pipeline for our on site machines exceeding 4,000 units, I see no problem achieving the initial target in the timeframes agreed in the binding term sheet."
Unit 5 |
Mail to | P.O. Box 190 | South Perth | WA | 6951
ABN 85 602 111 115 | MyFiziq.com
ASX Announcement
Thursday 11th April 2019
About Evolt
Evolt is a technology driven health and wellness company that is powering connected and digital health. Evolt has developed an
Evolt is at the forefront of technology and use an
About MyFiziq
MyFiziq is an augmenter of current technologies, rather than a disruptor. We partner with highly scaled existing applications and provide our partners with a deeper insight into the data they currently retrieve from their users. When consumers want to track change as they step, ride, train, calorie count or simply buy clothing online, the end result is a drive toward understanding and tracking dimensional change. MyFiziq provides that missing link when users engage with other ecosystems.
MyFiziq is a revolutionary technology embedded in a partner’s application, that uses images from your smartphone to create a representation of you in the form of a 3D avatar with accurate circumference measurements.
Partners embed our SDKs (Software Development Kits) into their new or existing apps, and then customize the experience to satisfy their branding requirements.
MyFiziq leverages the power of Computer Vision, Machine Learning and patented algorithms, to process these images on secure,
For more information please visit: www.myfiziq.com
Unit 5 |
Mail to | P.O. Box 190 | South Perth | WA | 6951
ABN 85 602 111 115 | MyFiziq.com