SPYR Inc (SPYR)

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SPYR Technologies’ Applied Magix Exploring Adding Health and Wellness Product Category to Portfolio
May 31, 2022

THE WOODLANDS, Texas, May 31, 2022 (GLOBE NEWSWIRE) -- via InvestorWire – SPYR Technologies (“SPYR” or the “Company”), a technology company whose subsidiary, Applied Magix, Inc., develops and resells Apple® ecosystem compatible products in the growing multibillion-dollar smart home and connected car markets, announces the Company is exploring adding Health and Wellness products to its growing line of product categories.

“While ‘home’ and ‘car’ are important to most people, really the most important thing to most people should be, and is, their health. We are excited about exploring which products to add to our ‘Health and Wellness’ line,” said Applied Magix CEO Dr. Harald Zink. “Technology over the past few years has made health and health monitoring easier and more accessible than ever, and we are really excited about adding this most important category to Applied Magix, which will be accessible under a new ‘Health’ section on our website.”

While the Health and Wellness market is currently a $1.5 trillion market globally, according to McKinsey Research, it is predicted that consumers’ desire for more personalization in the areas of health, fitness, nutrition, appearance, sleep and mindfulness will push this market towards strong growth of nearly $4.2 trillion within the next decade, according to the iMarc Group."

“With the predicted growth of the Health and Wellness Market over the next decade, this seems like the right space for Applied Magix to expand into," states Tim Matula, chief executive officer of SPYR Technologies. “With none of us getting any younger, we can benefit from such products, just as much as our customers can.”

Applied Magix and SPYR are excited about the Health & Wellness category and after consideration and selection, upcoming products will be made available under the new “Health” tab on the Applied Magix website.

References:
McKinsey Research:
https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/wellness-in-2030

iMarc Group:
https://www.imarcgroup.com/health-wellness-market



https://ir.spyr.com/press-releases/2022/spyr-technologies-applied-magix-exploring-adding-health-and-wellness-product-category-to-portfolio