Brisbane, Australia, 20 January 2022 — ResApp Health Limited (ASX:RAP), a leading digital health company developing smartphone applications for the diagnosis and management of respiratory disease, is pleased to announce that it has signed a non-exclusive, three-year binding letter of intent (LOI) with Philippines-based telehealth start-up Homify Corporation (“Homify”) under which Homify will integrate ResApp’s smartphone-based acute respiratory diagnostic test ResAppDx into their telehealth services. Homify plans to launch ResAppDx on its platform in the middle of this calendar year.
Homify was founded in 2021 by Wilson, Wayne and Rachelle Uy. Wilson is also the founder of Kaching Technologies AI, a Philippine company that is a product reseller of Augmented Reality, Artificial Intelligence and other technology solutions for businesses and consumers. The Homify platform will integrate digital diagnostic and patient support tools from inception, with ResAppDx being the foundational technology. The Philippines has a population of 112 million people with many people facing difficulties accessing health care.
ResAppDx is ResApp’s acute respiratory diagnostic test that uses machine-learning technology to analyse signatures in cough sounds to diagnose respiratory disease using a smartphone’s inbuilt microphone. It is CE Marked in Europe and TGA approved for ARTG (Australian Register of Therapeutic Goods) listing in Australia.
Wilson Uy, Homify CEO said: “We are incredibly excited to have ResAppDx as a foundational diagnostics partner for our telehealth platform. We and our clinical advisors have been very impressed by their data, ease of use and the broad applicability to a large portion of our telehealth calls. We believe the ResAppDx test will provide great benefits for Filipino patients and clinicians and provide a significant point of difference for the Homify telehealth proposition. We very much look forward to launching Homify in 2022 and rapidly scaling our business.”
CEO and Managing Director of ResApp Health, Dr Tony Keating said: “We are excited to be a foundational diagnostic support tool for Homify to launch its telehealth business. We have been impressed with Homify’s innovative vision to launch with and support the full integration of digital diagnostics into their telehealth platform from Day 1. With a population of 112 million and significant unmet medical need for many, we believe that this partnership will support Homify to improve access and diagnostic accuracy of respiratory disease in the Philippines. We look forward to this launch later in the year.”
The launch of ResAppDx on Homify’s platform is dependent on ResApp obtaining regulatory approval as a medical device in the Philippines. The LOI is also conditional upon Homify achieving certain milestones, including securing the necessary regulatory and legal approvals to operate a telehealth business in the Philippines. The LOI specifies pricing on a monthly subscription basis with tiered pricing based on number of tests performed per month. Revenue from the agreement cannot be estimated at this early stage as it is dependent on Homify’s market penetration following launch. Either party may terminate the LOI with 60 days notice.
About ResApp Health Limited
ResApp Health Limited (ASX: RAP) is a leading digital health company developing smartphone applications for the diagnosis and management of the respiratory disease. ResApp’s machine learning algorithms use sound to diagnose and measure the severity of respiratory conditions without the need for additional accessories or hardware. ResApp’s regulatory-approved and clinically validated products include ResAppDx, a smartphone-based acute respiratory disease diagnostic test for use in telehealth, emergency department and primary care settings; and SleepCheck, a smartphone application which allows consumers to self-assess their risk of sleep apnoea. Both products are CE Marked in Europe and TGA approved in Australia. For more information, please visit www.resapphealth.com.au.
Homify is a telehealth app that uses a smartphone as a clinical device that offers various healthcare services. One of the main features is that patients can use contactless technology to measure vital signs with superior accuracy comparable to smartwatches. The app offers online consultation, direct medical prescription, constant home monitoring, and many more made convenient anywhere the individual is. It is a holistic healthcare platform bringing health and wellness to Filipinos without having to leave their homes. By providing every family with “Doctor on the go” or a “Subscription basis model”, Homify creates an e-health profile and health management plans for the Filipinos. As the saying goes, “Medical Needs at Home”, is the new trend due to the current circumstances around the world.