TORONTO, Sept. 24, 2024 /CNW/ - Newtopia Inc.
("Newtopia" or the "Company") (TSXV: NEWU) (OTCQB:
NEWUF), a tech-enabled habit change provider focused on preventing,
slowing, and reversing metabolic disease, is pleased to announce a
new Framework Agreement with a supplemental insurance payvider
("Payvider") to offer its proven habit change platform to thousands
of U.S. workers as a fully-covered benefit starting in 2025.
This exciting new partnership exposes the company to an entirely
new channel of business in supplemental insurance with a Payvider
that is consistent with Newtopia's own mission, dedicated to
cultivating whole health and wellbeing in its members. The
Payvider's platform already serves some of US industry's largest
employers, which, together, represent millions of workers. As a
fully-covered benefit on the platform, Newtopia will provide its
best-in-class habit change platform, combining personalized
coaching, nutrition, exercise and mental & emotional well-being
support, to the approximately 50% of plan members at risk of
metabolic disease, with no out-of-pocket costs to the individuals
served. Plan members will also have access to Newtopia's rapidly
growing GLP-1 companion offerings, GLP-1 Ally and GLP-1
Sustain, which are designed to help individuals taking GLP-1
medications maintain their clinically significant weight loss and
healthier lifestyles – even when they transition off of the
medication entirely.
"We are delighted to work with this innovative supplemental
insurance payvider to prevent, reverse and slow chronic metabolic
disease at scale," said Jeff Ruby,
Founder and CEO of Newtopia. "This partnership reflects a win for
our diversified growth strategy of selling to employers, payers and
value-based providers, and, based on Newtopia's historic success
with enrolling up to 5% of at-risk individuals, it has the
potential to meaningfully accelerate our progress toward cash flow
positivity and profitability in 2025."
About Newtopia
Newtopia is a personalized whole health platform helping people
create positive lifelong habits that prevent, slow, or reverse
chronic disease while reducing healthcare costs. The platform
leverages genetic, social and behavioral insights to create
individualized prevention programs with a focus on metabolic
disease, diabetes, mental health challenges, hypertension, weight
management and musculoskeletal disorders. With a
person-centered approach that combines virtual care, digital
tools, connected devices and actionable data science, Newtopia
delivers sustainable clinical and financial outcomes. Newtopia
serves some of the largest nationwide employers and health plans
and is currently listed in Canada
on the TSX Venture Exchange (TSXV: NEWU) and is quoted in
the US on the OTCQB® Venture Market (OTCQB: NEWUF).
To learn more,
visit newtopia.com, LinkedIn or X.
Forward Looking Statements
This news release contains forward-looking information and
forward-looking statements, within the meaning of applicable
Canadian securities legislation, and forward looking statements,
within the meaning of applicable United
States securities legislation (collectively,
"forward-looking statements"), which reflects management's
expectations regarding Newtopia's future growth, results from
operations (including, without limitation, future production and
capital expenditures), performance (both operational and financial)
and business prospects and opportunities. Wherever possible, words
such as "predicts", "projects", "targets", "plans", "expects",
"does not expect", "budget", "scheduled", "estimates", "forecasts",
"anticipate" or "does not anticipate", "believe", "intend" and
similar expressions or statements that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur
or be achieved, or the negative or grammatical variation thereof or
other variations thereof, or comparable terminology have been used
to identify forward-looking statements. All statements other than
statements of historical fact may be forward- looking information.
Such statements reflect Newtopia's current views and intentions
with respect to future events, based on information available to
Newtopia, and are subject to certain risks, uncertainties, and
assumptions. Material factors or assumptions were applied in
providing forward-looking information. While forward-looking
statements are based on data, assumptions and analyses that
Newtopia believes are reasonable under the circumstances, whether
actual results, performance or developments will meet Newtopia's
expectations and predictions depends on a number of risks and
uncertainties that could cause the actual results, performance and
financial condition of Newtopia to differ materially from its
expectations. Forward-looking statements are not a guarantee and
are based on a number of estimates and assumptions management
believes to be relevant and reasonable, whether actual results,
performance or developments will meet Newtopia's expectations and
predictions depends on a number of risks and uncertainties that
could cause the actual results, performance and financial condition
of Newtopia to differ materially from its expectations. Certain of
the "risk factors" that could cause actual results to differ
materially from Newtopia's forward-looking statements in this press
release include, without limitation: the termination of contracts
by clients, risks related to COVID-19 including various
recommendations, orders and measures of governmental authorities to
try to limit the pandemic, including travel restrictions, border
closures, non-essential business closures, quarantines,
self-isolations, shelters- in-place and social distancing,
disruptions to markets, economic activity, financing, supply chains
and sales channels, and a deterioration of general economic
conditions including a possible national or global recession; and
other general economic, market and business conditions and factors,
including the risk factors discussed or referred to in Newtopia's
disclosure documents, filed with the securities regulatory
authorities in certain provinces of Canada and available at www.sedarplus.ca
including Newtopia's final long form prospectus dated March 30, 2020.
For more information on these risks please see the "Risk
Factors" in Newtopia's final long-form prospectus dated
March 30, 2020. Should any factor
affect Newtopia in an unexpected manner, or should assumptions
underlying the forward-looking information prove incorrect, the
actual results or events may differ materially from the results or
events predicted. Any such forward-looking information is expressly
qualified in its entirety by this cautionary statement. Moreover,
Newtopia does not assume responsibility for the accuracy or
completeness of such forward-looking information. The
forward-looking information included in this news release is made
as of the date of this news release, and Newtopia undertakes no
obligation to publicly update or revise any forward-looking
information, other than as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Newtopia Inc.