Steven Schwartz, CEO of Midtown Athletic Clubs, has announced the sale of the company's Midtown Health Management division to contract management specialist, HealthFitness
Midtown Health manages 25 on-site health clubs in the US, with a client list that includes corporate gyms and health clubs, community fitness facilities and hospital wellness centres.
All Midtown Health staff, including president Debra Siena, will join HealthFitness.
Schwartz said: "HealthFitness is committed to excellence and is a great home for Midtown Health’s clients and associates."
The sale will raise cash to enable Midtown to focus on its owned-operated business: "We are now singularly focused," Schwartz told HCM
"This deal allows us to direct 100 per cent of our energy towards developing our portfolio of Midtown Athletic Clubs' luxury sports resorts."
He added: “Our flagship Midtown Athletic Club in Chicago has been tremendously successful and we've decided to focus exclusively on that business model going forward. We'll be reinvesting all the proceeds of this sale into our Midtown Athletic Clubs properties that have not yet been converted to the Chicago format, look and feel.”
Read more about Midtown Athletic Clubs
in the HCM interview with Steve Schwartz here
Midtown Athletic Clubs is a division of TCA Holdings LLC and has eight clubs in the US and Canada.