Core Health & Fitness announced April 21 it has acquired Wexer, which provides digital health and fitness offerings. Financial terms of the transaction are confidential.
The Core Health & Fitness transaction will provide Wexer with the financial resources to scale its business, including making significant acquisitions to consolidate the digital fitness sector and drive digital adoption in the fitness and health industry.
"Following the demise of Covid, commercial gym customers are placing increasing emphasis on connected fitness. Although many customers are returning to in-person training, they expect to continue to supplement it with connected fitness, underscoring the importance of an omnichannel experience."
Jason Leone, president of Core Health & Fitness
The launch of the collaboration between Core Health & Fitness and Wexer will be heralded with a global roadshow designed to educate and inspire the fitness industry about the need for omnichannel fitness.
The roadshow will demonstrate the powerful impact a digital offering can have on membership, revenue and retention. Gym operators will be shown how to make the shift to a sustainable hybrid model.
"This is a significant step for Wexer, providing us with the support, investment and distribution to grow our business and hybridize the fitness industry. The ability to work closely with Core Health & Fitness to build an even more diverse digital ecosystem is another great benefit of the acquisition. We are excited about our new ownership and excited about the impact not only for Wexer, but for the entire sector."
Paul Bowman, CEO of Wexer
Source and image credit: BODYMEDIA
Published on: 26 May 2022