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Growth tactics

Egym has announced deals designed to position it for growth acceleration, as Kath Hudson reports


Egym, which raised £207 million in funding last year, has announced a number of executive hires and company acquisitions as it reveals its growth strategy after years flying under the radar.

The company equips health clubs and clinics with smart gym equipment and digital solutions that offer an AI-driven workout experience for people of all skill levels. It has been bolstering its senior team, most recently by appointing Steve Barton, former MD at Technogym UK to drive growth, while the company also recently hired the former CEOs of Life Fitness – Chris Clawson – and Precor – Rob Barker – to power up its top management team in what is an increasingly substantial and competitive sector.

Barker, who will work with Barton to develop the UK market, said: “Egym has big plans for the UK and Steve’s leadership is key. Many operators have put COVID behind them and are growing their service offering and digital integrations”.

Barton said, “By partnering with Egym, health club operators have the opportunity to be leading players in the transformation of the world's largest market of all – healthcare – from repair to prevention.”

Approximately 16,000 clubs worldwide use Egym products and services.

Egym buys Hussle
Egym has also signaled its intention to become a force in the corporate wellness sector with the acquisition of UK-based aggregator, Hussle.

The integration gives the company access to a network of around 1,500 gyms, pools, and spas in the UK to expand its corporate wellness product, Wellpass, which is already available in Germany, Austria, Belgium and France.

Egym Wellpass offers employers subscription-based corporate health and wellness solutions, allowing them to offer employees access to sports and health facilities and Egym training programmes.

The partnership with Hussle allows Egym to gain a footing in the UK’s corporate wellness market at the right time, as – with absenteeism causing an economic drag – creating a more healthy workforce must be a priority for the next UK government.

Hussle was formed in 2011 by Neil Harmsworth and Jamie Ward. Through partnerships with companies such as AXA Health, Bupa and IWG it provides customers to its network of 1,500 UK gyms and health clubs.

Coming through a challenge
Hussle went through a pre-pack administration during the pandemic, being bought by shareholders Harm Tegelaars and Maxim Chmyshuk. It has been rebuilding since and seeing dynamic growth in the corporate market, with sales reportedly up 250 per cent in 2023 and still rising in 2024.

Harmsworth – Hussle COO – said: “The deal links Egym’s gymtech with the corporate benefits space that Hussle enables for our fitness operator partners.

“I'm excited about the opportunity to combine our corporate customer proposition with Egym’s tech so our fitness operator partners can benefit from both new customers and the equipment and software.”

Egym Wellpass MD, Nicolas Stadtelmeyer, said: "Our mission is to foster health and wellbeing in every workplace. With more than 32 million employees and a £2.15 billion corporate wellness market, stepping into the UK was a logical and strategic move. Following our entry into France (where Egym acquired Gymlib in 2022), we now have a presence in the three largest European economies. The future is very exciting for us."

Egym CEO, Philipp Roesch-Schlanderer, said: “The NHS's prioritisation of prevention over repair fits well with our mission and we’re excited to begin this journey with Hussle."

The UK corporate wellness market is expected to grow at a compound annual rate of 4.72 per cent, reaching a market size of £3 billion in the next five years. Industry experts anticipate a global average annual growth rate of 7 per cent in the corporate wellness market until 2029, projecting it to exceed £63 billion.

When companies sign up to Wellpass or Hussle and determine the personal contribution their employees pay for participation, they gain access to 14,500 exercise facilities in Germany – where Egym bought Qualitrain in 2018 – Austria, the UK, France, and Belgium and a growing range of online courses. This is also a route to reach people who were not previously active.

Steve Barton Credit: photo: egym
 


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25 Jul 2024 Leisure Management: daily news and jobs
 
 
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SELECTED ISSUE
Health Club Management
2024 issue 3

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Leisure Management - Growth tactics

News report

Growth tactics


Egym has announced deals designed to position it for growth acceleration, as Kath Hudson reports

The Hussle/Egym team: L-R, Patrick Meininger, Nicholas Stadtelmeyer, Neil Harmswoth, Philipp Roesch-Schlanderer and Jamie Ward photo: egym
Steve Barton photo: egym

Egym, which raised £207 million in funding last year, has announced a number of executive hires and company acquisitions as it reveals its growth strategy after years flying under the radar.

The company equips health clubs and clinics with smart gym equipment and digital solutions that offer an AI-driven workout experience for people of all skill levels. It has been bolstering its senior team, most recently by appointing Steve Barton, former MD at Technogym UK to drive growth, while the company also recently hired the former CEOs of Life Fitness – Chris Clawson – and Precor – Rob Barker – to power up its top management team in what is an increasingly substantial and competitive sector.

Barker, who will work with Barton to develop the UK market, said: “Egym has big plans for the UK and Steve’s leadership is key. Many operators have put COVID behind them and are growing their service offering and digital integrations”.

Barton said, “By partnering with Egym, health club operators have the opportunity to be leading players in the transformation of the world's largest market of all – healthcare – from repair to prevention.”

Approximately 16,000 clubs worldwide use Egym products and services.

Egym buys Hussle
Egym has also signaled its intention to become a force in the corporate wellness sector with the acquisition of UK-based aggregator, Hussle.

The integration gives the company access to a network of around 1,500 gyms, pools, and spas in the UK to expand its corporate wellness product, Wellpass, which is already available in Germany, Austria, Belgium and France.

Egym Wellpass offers employers subscription-based corporate health and wellness solutions, allowing them to offer employees access to sports and health facilities and Egym training programmes.

The partnership with Hussle allows Egym to gain a footing in the UK’s corporate wellness market at the right time, as – with absenteeism causing an economic drag – creating a more healthy workforce must be a priority for the next UK government.

Hussle was formed in 2011 by Neil Harmsworth and Jamie Ward. Through partnerships with companies such as AXA Health, Bupa and IWG it provides customers to its network of 1,500 UK gyms and health clubs.

Coming through a challenge
Hussle went through a pre-pack administration during the pandemic, being bought by shareholders Harm Tegelaars and Maxim Chmyshuk. It has been rebuilding since and seeing dynamic growth in the corporate market, with sales reportedly up 250 per cent in 2023 and still rising in 2024.

Harmsworth – Hussle COO – said: “The deal links Egym’s gymtech with the corporate benefits space that Hussle enables for our fitness operator partners.

“I'm excited about the opportunity to combine our corporate customer proposition with Egym’s tech so our fitness operator partners can benefit from both new customers and the equipment and software.”

Egym Wellpass MD, Nicolas Stadtelmeyer, said: "Our mission is to foster health and wellbeing in every workplace. With more than 32 million employees and a £2.15 billion corporate wellness market, stepping into the UK was a logical and strategic move. Following our entry into France (where Egym acquired Gymlib in 2022), we now have a presence in the three largest European economies. The future is very exciting for us."

Egym CEO, Philipp Roesch-Schlanderer, said: “The NHS's prioritisation of prevention over repair fits well with our mission and we’re excited to begin this journey with Hussle."

The UK corporate wellness market is expected to grow at a compound annual rate of 4.72 per cent, reaching a market size of £3 billion in the next five years. Industry experts anticipate a global average annual growth rate of 7 per cent in the corporate wellness market until 2029, projecting it to exceed £63 billion.

When companies sign up to Wellpass or Hussle and determine the personal contribution their employees pay for participation, they gain access to 14,500 exercise facilities in Germany – where Egym bought Qualitrain in 2018 – Austria, the UK, France, and Belgium and a growing range of online courses. This is also a route to reach people who were not previously active.


Originally published in Health Club Management 2024 issue 3

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