Town Sports International (TSI) Adds Fitcorp Private Fitness Division Acquired Organization's Successful Business Model Paves Way For New Growth
NEW YORK, June 26, 2013 /PRNewswire/ -- Town Sports International (TSI), the owner and operator of New York Sports Clubs, Boston Sports Clubs, Washington Sports Clubs and Philadelphia Sports Clubs, today announced the launch of its new Fitcorp Private Fitness Division designed to manage private fitness centers for both large and small companies.
The announcement comes on the heels of TSI's May 2013 acquisition of Boston-based Fitcorp, which, for more than forty years, has managed private fitness centers for companies such as Fidelity Investments, Biogen Idec, Gillette, Raytheon, Boston Scientific, PTC and Bingham McCutchen. This partnership allows the successful Fitcorp wellness model to expand beyond the Boston area and into New York, Washington and Philadelphia. Gary Klencheski, the former Founder and CEO of Fitcorp, will be the President of the Fitcorp Private Fitness Center Division.
"We are very excited about the addition of the Fitcorp Private Fitness Division to TSI and the nearly four decades of experience they have designing, developing and managing corporate fitness centers," said Bob Giardina, CEO of Town Sports International. "Additionally, all of the Fitcorp Private Fitness Division gym members and their families can now use our 159 clubs, which creates a very attractive product for consumers."
"Our fitness and wellness programs have a positive impact on a company's bottom line," said Klencheski. "Employees that improve their fitness have lower healthcare costs, better productivity, fewer medical claims and reduced absenteeism. The result is a win/win for both the employee's personal health and the company's financial health."
"Corporations are discovering the benefits of developing private fitness centers," added Bob Giardina. "What was once seen as a luxury, or an executive perk, has become a necessary component for forward-thinking organizations."
About Town Sports International Holdings, Inc.: New York-based Town Sports International Holdings, Inc. (NASDAQ: CLUB) is a leading owner and operator of fitness clubs in the Northeast and mid-Atlantic regions of the United States and, through its subsidiaries, operated 159 fitness clubs as of March 31, 2013, comprising 108 New York Sports Clubs, 25 Boston Sports Clubs, 17 Washington Sports Clubs (two of which are partly-owned), six Philadelphia Sports Clubs, and three clubs located in Switzerland. These clubs collectively served approximately 512,000 members. For more information on TSI, visit mysportsclubs.com.
SOURCE Town Sports International