Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) has partnered with a payment integration services provider that will help some customers save pre-tax costs by 30-40 per cent.
The sleeping technology company announced the partnership on Thursday with TrueMed which enables customers to use their health savings account (HSA) and flexible spending account (FSA) to purchase Hapbee devices.
TrueMed is a payment integration that enables qualified customers to use pre-tax HSA/FSA funds to purchase health-promoting products or services from some health providers.
“This partnership represents a major milestone in our commitment to making Hapbee accessible to as many individuals as possible,” Hapbee CEO Yona Shtern said.
“By enabling pre-tax savings through HSA and FSA cards, we hope to empower individuals to take control of their well-being and experience the transformative effects of our wearable technology.”
Hapbee stock went up by 11.11 per cent on Thursday to $0.10 on the Canadian Ventures Exchange.
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By letting people use their pre-tax healthcare funds for Hapbee purchases it empowers customers to prioritize their well-being while maximizing their savings, TrueMed founder Calley Means said.
“This collaboration aligns with TrueMed’s commitment to providing convenient and accessible payment solutions for healthcare expenses,” Means added.
“Together, we aim to enhance the overall wellness experience for individuals and revolutionize the way people approach their self-care journeys.”
Hapbee also announced this week that it was awarded the Nexus Certification as an effective tool in suicide prevention among the United States military community.
The award was given by the non-profit Grey team, which aims to improve the personal health and wellness of soldiers and military veterans to prevent suicide.
Recently, the company formed a partnership with Reputable Health to develop personalized sleep routines. These routines will leverage artificial intelligence to analyze sleep data collected via Reputable Health’s platform.
In February, Hapbee collaborated with LocoMobi World to create an application. This app will utilize Hapbee’s Focus, Boost, and Alert biostreams with the aim of maintaining driver alertness and reducing road accidents.
In a June report by the research firm Visiongain, it was found that the global market for sleep technology is expected to grow from US$16 billion in 2022 to over US$107 billion by 2033.
The business intelligence company says the market will flourish with a 22.6 per cent compound annual growth rate (CAGR) during the forecast period.
