21 Oct 2011 07:00
Fitbug Holdings Plc / Epic: FITB.L / Index: AIM / Sector: Leisure
21 October 2011
Fitbug Holdings Plc ('Fitbug' or 'the Company')
Signs Agreement With MeYou Health
Fitbug Holdings Plc, the AIM traded provider of online personal health and well-being services, is pleased to announce that it has signed a device and software licence agreement with Boston-based MeYou Health, a wholly-owned subsidiary of Healthways, Inc. (Nasdaq: HWAY). This agreement will see Fitbug's technology support MeYou Health propositions and is in line with the Company's corporate strategy to expand its presence in the US health market.
MeYou Health delivers web and mobile technologies designed to transform social networks into support systems and improve the well-being of users. Recognising that people often fail when trying to make big, unrealistic health changes, MeYou Health suggests daily small actions and enhances social ties to inspire meaningful, lifelong change.
Fitbug CEO Paul Landau said, "While the revenue from this pilot stage project at MeYou Health is modest, it offers significant future potential and presents an exciting opportunity to partner with an innovative leader in the US Health App and mobile health challenge arena. The roll out of our online personal health and well-being services continues to gather momentum as demonstrated by the recent signing of a Master Services Agreement with the health services arm of one of the largest health insurers in the US and the opening a US sales and customer support office. We look forward to strengthening this further as we increasingly expand our presence in our chosen markets."
Trapper Markelz, Head of Product at MeYou Health, said, "Choosing the right partner was a really important decision for MeYou Health. We carried out a full market review looking at integrated device and software platforms plus the vendor's range of support services and value creation. Fitbug was the clear leader and its technology is already proving to be versatile and straight forward to integrate."
**ENDS**
For further information visit www.fitbugholdings.com or contact:
Paul Landau | Fitbug Holdings Plc | 020 7449 1000 |
Andrew Brummer | Fitbug Holdings Plc | 020 7449 1000 |
Mark Percy | Seymour Pierce | 020 7107 8000 |
Catherine Leftley | Seymour Pierce | 020 7107 8000 |
Katie Ratner | Seymour Pierce | 020 7107 8000 |
Jon Levinson | Rivington Street Corporate Finance Limited | 020 7562 3357 |
Isabel Crossley | St Brides Media & Finance Ltd | 020 7236 1177 |
Elisabeth Cowell | St Brides Media & Finance Ltd | 020 7236 1177 |
About Fitbug
Fitbug is a leading provider of online health and well-being services to help individuals to improve their lifestyles by making realistic changes to their daily routine. It combines activity tracking devices, which download to www.fitbug.com to provide an understanding of each user's daily activity achievements, with web technology which provides users with personalised weekly activity and nutrition targets, feedback, advice and encouragement.
Key market sectors include health insurance and rewards providers, workplace health programmes, Primary Care Trusts, fitness operators and consumers. Increasingly, Fitbug's platform acts as the driving force behind third party services such as white label sites, activity driven games and challenge microsites and rewards programmes.
The Company's main focus is now on building strategic partnerships with organisations, with the United States as a key market, which can integrate Fitbug into their own service/product offerings or resell to their customer base.
Fitbug has a strong team headed by Executive Chairman Fergus Kee who was the former Managing Director of Bupa's £2.1 billion turnover UK and North American Division.
About MeYou Health and Healthways
Further information about MeYou Health and Healthways can be found on www.meyouhealth.com and www.healthways.com
Healthways ia a leading US provider of specialised, comprehensive solutions to help people maintain or improve their health and well-being and, as a result, reduce overall costs. Its customer base includes 80% of US health insurance plans, 30 Blue Cross Plans and over 1000 employers. In total its services cover 38 million lives.