Mental health matters a great deal in the workplace. Without it, companies could lose billions in lost productivity along the way. “According to the National Institute of Mental Health, one in five adults — or roughly 51.5 million women and men ages 18 and older — grappled with mental health issues in 2019, but fewer than half sought professional help. These silent struggles had a ripple effect on the greater economy, costing businesses an estimated $53 billion in lost productivity, accelerated turnover, and increased insurance premiums and disability claims,” as noted by Bentley University. Demand for companies to prioritize health and wellness in the workplace could be beneficial for Wellteq Digital Health Inc. (CSE:WTEQ)(OTC:WTEQF), Teladoc Health Inc. (NYSE:TDOC), Peloton Interactive (NASDAQ:PTON), 1Life Healthcare Inc. (NASDAQ:ONEM), and WELL Health Technologies Corp. (TSX:WELL)(OTC:WLYYF).
Bentley University also noted that the pandemic created, “a perfect storm that’s soon to make landfall in the form of greater mental health afflictions in the workplace.” To prevent that, or help, may employees all around the world need for companies to prioritize wellness.
Look at Wellteq Digital Health Inc. (CSE:WTEQ)(OTC:WTEQF) for example
Wellteq Digital Health Inc. is a corporate wellness platform paid for by employers, insurers, and health providers. It also provides employers and employees with actionable health recommendations, ongoing support and coaching with medical professionals.
The company just announced it shares are now trading in the United States of America under the symbol WTEQF. Wellteq’s shares currently trade on the Pink Open Market tier, with Wellteq having submitted its application to up list on the OTCQB® Venture Market. Wellteq also confirms that its shares are DTC (Depository Trust Company) eligible in the United States.
DTC eligibility is expected to simplify the process of trading and enhance liquidity for the company's common shares. Securities eligible to be electronically cleared and settled through DTC are considered DTC eligible. DTC eligibility enables shares of Wellteq to be distributed, settled and serviced through DTC's automated processes, thereby taking advantage of the efficiencies created in the electronic method of clearing securities and the resulting cost benefits that DTC provides through accelerated settlement processes. Companies that are DTC eligible often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading.
"Trading on the OTC markets in the United States is another milestone for Wellteq," said Scott Montgomery, CEO of Wellteq Digital Health. "We anticipate increased interest from U.S. investors as trading on OTC Markets Group Inc.’s ATS and DTC eligibility will make it easier to purchase our shares. This is another example of Wellteq moving forward on all fronts as it works to build out its growing digital health and wellness business."
Other related developments from around the markets include:
Teladoc Health Inc., the global leader in whole-person virtual care, today reported strong financial results for the fourth quarter and full year ended December 31, 2020. “As virtual care shifted to become a consumer expectation in 2020, Teladoc Health not only met the rapidly growing demand, but we transformed our company to define a new category of whole-person virtual care,” said Jason Gorevic, chief executive officer of Teladoc Health. “By accelerating our mission to transform the health care experience, we exceeded our fourth-quarter and full-year 2020 expectations and see strong momentum across our global business in 2021 as the market embraces the breadth and depth of our unique capabilities.”
Peloton Interactive, the leading interactive fitness platform, today announced that it has officially closed the acquisition of Precor, one of the largest global commercial fitness equipment providers with a significant U.S. manufacturing presence. With this acquisition, Peloton establishes its U.S. manufacturing capacity, anticipates boosting research and development capabilities with Precor's highly-skilled team and accelerating Peloton's penetration of the commercial market. Peloton plans to produce connected fitness products in the United States before the end of the calendar year 2021.
1Life Healthcare Inc. announced financial results for the fourth quarter and full year ended Dec. 31, 2020. “At One Medical we are advancing on our vision to delight our communities, our members, and our enterprise clients with better health and better care, while reducing costs,” said Amir Dan Rubin, Chair & CEO of One Medical. “We have continued to see our human-centered and technology-powered model deliver impacts at scale--expanding to serve 549,000 members and more than 8,000 employer clients, and enabling more than 5 million digital and in-person interactions during 2020. Our continued momentum is further reflected in our financial results, with full year 2020 net revenue of $380 million up 38% year-over-year.”
WELL Health Technologies Corp., a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, announced it has closed the share purchase agreement dated March 7, 2021 with the shareholders of Intrahealth Systems Limited, a New Zealand company, and acquired all of the issued and outstanding shares of Intrahealth for total consideration of approximately $19,250,000. Intrahealth is a provider of enterprise class EMR and clinical healthcare software with customers in Canada, New Zealand and Australia.
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