The partnership aims to develop and offer sleep-related solutions in the Japanese market.
Why it matters:
Sleep deprivation is a significant public health issue in Japan. A government survey found that 20% of Japanese adults have chronic insomnia.
Japan also has the shortest average nightly sleep duration of 7 hours 22 minutes among OECD countries.
The Key Points
- Under the terms of the agreement, Realize Innovations will distribute Asleep's existing solutions to Japanese companies.
- The companies will also work together to create new products and services by integrating Asleep's technology into Realize Innovations' offerings.
- These could interface with Asleep's Sleeptrack Platform business solution and Sleep Routine consumer app.
- Realize Innovations has been expanding its suite of AI and sleep technology solutions. The company has also formed partnerships in the digital healthcare space.
- Asleep's sleep stage detection and sound analysis capabilities could complement Realize Innovations' portfolio.
What they say:
"Asleep is a leading provider of AI-driven sleep analytics for healthcare. This collaboration aligns with our goal of applying our technology to address sleep issues in Japan's high-growth sleep tech industry,"
said Dongheon Lee, CEO of Asleep.
What comes next?
Asleep's Sleeptrack platform aggregates employee sleep data for corporate clients.
Its Sleep Routine app provides consumers with personalized sleep insights and suggestions.
Major corporations in South Korea have adopted Asleep's solutions.
The partnership will allow Realize Innovations to expand its offerings with clinically validated sleep products powered by Asleep's proprietary AI.
It also supports Realize Innovations' strategy to grow its digital health business through partnerships with innovative technology providers.
The partners plan to launch the first jointly developed solutions in Japan next year.