PERTH: MyFiziq Limited, a company within the information technology sector, has signed a binding term sheet with Bearn LLC in North America, the owner and operator of a transformative Bearn Application (app). MyFiziq will be paid US$2.00 per scan from Bearn.

Bearn and MyFiziq will collaborate to integrate MyFiziq’s body tracking application into the Bearn app. Bearn’s users will be able to track changes in their body shape, weight and health using the MyFiziq technology as they follow Bearn’s coaching, fitness and nutritional programs.

MyFiziq will be an integral part of Bearn’s offering as the primary check point of dimensional and body composition change. MyFiziq will work together with Bearn’s digital design team to create the best possible user experience.

Bearn presents a unique multi-sided vendor backed platform that allows for the gamification and engagement of health with users. Users earn actual cash for improving their health, fitness and wellness. To date, Bearn has been able to demonstrate a 75% retention of its users.

Bearn is focused on partnering with companies that are looking to build retention through rewarding their consumers for achieving their fitness and weight loss goals. Bearn is using its expert industry knowledge and global strategic networks to bring the world’s best technologies together, accelerating and enabling the distribution of its innovative application to the mass market consumers through multiple industries such as insurance, wellness providers and many of the world’s largest wearables manufacturers and distributors.

Bearn is well underway with its launch ready designs and estimates the MyFiziq integration and design phase to take 30 days with a further 60 days to complete the market ready application. Bearn is targeting a full launch of the application in April / May 2020.

Bearn users will earn access to the MyFiziq tracking technology under the Bearn reward program where they will receive an ability to check their goals are being achieved each week through the dollars they have earned.

Vlado Bosanac, Chief Executive Officer of MyFiziq, said: “The Bearn application is a very innovative way to engage and retain users. Being paid to achieve your fitness goals where the consumer can benefit both financially and physically is not only unique, but also extremely motivating for the individual Having spent considerable time now with companies globally that are looking for ways to engage and retain their consumers, I feel Bearn is on a winning formula which it will offer to organisations around the world.”

Aaron Drew, CEO & Founder of Bearn, said: “I am extremely excited to partner with MyFiziq to leverage their body scanning technology for the launch of the Bearn app into the marketplace. I believe that this technology will enhance the engagement and gamification of health with our users and strengthen the value we bring to our advertiser and brand partners. The ability to allow the user to take body measurements, along with a number of other health related dimensions, such as BMI, from their mobile phone with such accuracy creates an exciting opportunity in the evolution of Bearn.”