Connected health will be a strong theme in technology in 2023. Two years of pandemic and uncertainty have made many people realize the importance of “health”: sleep better, work better, live better. Hapbee, a maker of connected accessories, is counting on Montreal to pick a niche in this emerging market.
After a decade of using the public’s personal data to flood them with targeted advertising, North American techno is changing its tune. What if this same data made it possible to offer subscription services that would attract more consumers?
This is a bet made by Hapbee. Developed in the second half of 2020 by Seattle-based medical device maker EMulate Therapeutics, the company released two wearable devices last year: a mattress that fits under a pillow and an electronic collar worn throughout the day. Both use electromagnetic waves to affect the user’s brain, helping them sleep better, concentrate or fight anxiety more effectively, depending on the situation.
The company has customers from all walks of life, from veterans of the United States Army to the most prominent players of the National Hockey League’s Nashville Predators. That includes forward Matt Duchene and defenseman Roman Josi.
We want to be at the center of the next big wave of technology because I believe health and connected health will be the next big trends in the industry.
It is not uncommon to see professional athletes turn to certain drugs or certain pharmaceutical stimulants to help them perform better during competition. They will usually need to take sedatives or sleeping pills later to sleep better. In many cases, this habit can lead to an unhealthy addiction to certain drugs.
If they are effective, technological solutions like Hapbee can be an alternative to chemical stimulants that are less harmful to the health of players, – explains Yona Stern, a Montreal entrepreneur and CEO of Hapbee. Board last February.
“A Predators assistant coach contacted us to purchase our products,” he said Be forced one who in another life founded the online retailer Beyond the Rack. “Players use them because they don’t want to take a lot of drugs. They are looking for ways to improve their performance without causing unwanted side effects. »
Hapbee was listed on the TSX Venture Exchange in Toronto in 2021 and was initially headquartered in Vancouver. After Yona Stern took over, operations management was moved to Montreal. The CEO is currently trying to bring the research and development done in the US, as well as the assembly of its devices, back to Quebec.
Hapbee experienced some financial turmoil late last year. The company released its financial statements a few days late, prompting a temporary suspension of its shares. Yona assures Stern that things are back to normal after that. The company is now optimistic about the future. It is looking for ongoing partnerships with major brands of connected health accessories and major retailers that will help it better promote its brand.
“We want to be at the center of the next big wave of technology because I believe health and connected health will be the next big trends in the industry,” Mr. Stern said.
The Montreal businessman isn’t alone in thinking so. The entire pharmaceutical industry is making unprecedented advances in technology these days, adding both software and hardware tools aimed at improving consumer health to its more traditional product catalog.
American giant Abbott is one of the most ardent supporters of connected health. The company attended CES in early January to confirm this. His strategy is simple enough: he tests new technologies with the public and then hopes to sell them to insurers and businesses at a better price. After all, how telemedicine has made its way into employers’ health coverage plans over the past two years…
Even better: these technologies can be sold as individual or group subscriptions. This profitable formula is gaining popularity as the “free in exchange for advertising” formula has fallen out of favor due to growing concerns about the manipulation of personal digital data.
Hapbee also offers its customers better sleep, better concentration, and more. sells subscriptions that provide access to special help for “All connected devices collect data. Yona Stern says the value is in the personalized help created from that data that effectively targets your problem. After all, you don’t need a $400 watch to tell you what time you wake up. You already know that…”