GlobalFit Acquires The Charge Group In Cash And Stock Deal

PHILADELPHIA, June 13, 2019 /PRNewswire/ -- GlobalFit, a leading workplace health and wellness technology company, announced today that it has acquired The Charge Group, an innovative and rapidly growing provider of insurance-funded workplace health and nutrition programs, in a cash and stock transaction. Following a successful 18-month partnership, GlobalFit and Charge have merged with the goal of accelerating the introduction of Charge's in-person and tele-nutrition programs at GlobalFit's 4,500 employer and insurer clients nationwide.

Since introducing its evidence-based, 1-on-1 and personalized workplace nutrition program in 2015, Charge has grown to 34 employees, serving approximately 400 employer clients, and posted a 122% revenue CAGR from 2016-2018. As a GlobalFit subsidiary, led by its Founder and CEO Mike McGrath, Charge will continue to provide best-in-class nutrition services to its existing client roster in the Mid-Atlantic region while expanding its insurance-funded in-person workplace nutrition services nationwide to GlobalFit's clients, often at no out-of-pocket cost to the employer or its employees. Charge's newly developed tele-nutrition platform will also be deployed nationally to reach those employees in remote locations who are unable to meet with a registered dietitian in-person.

With over 25 years in the corporate wellness space, GlobalFit has expanded its suite of workplace wellness technology solutions in recent years to include the nation's largest gym and studio network (Gym Network 360), a leading national and international wellness reimbursement platform (GlobalFit Rewards), a mindfulness solution connecting the physical and mental health of its users (WalkMyMind), and a dynamic pricing solution connecting users to studios, gyms and trainers (GlobalFit Anywhere). "GlobalFit remains committed to bringing new, value-added and in-demand wellness solutions to our longstanding insurer and employer clients," said GlobalFit CEO, Tony Frick. "Charge's tailored nutrition programs are specifically designed for each employee to meet their health goals, individual needs and busy lifestyle. Charge is a true complement to our existing fitness, mindfulness and wellness reimbursement solutions, and frankly a game-changer in our company's evolution and our collective work with our insurer and employer clients to build a healthier population."

"In just three years, through a focus on customer service, quality and outcomes, Charge has grown into one of the Mid-Atlantic region's largest networks of registered dietitians serving approximately 400 employer clients," said Charge CEO, Mike McGrath. "GlobalFit's reach, and significant employer and insurer client base, will give Charge the necessary platform to expand our innovative services nationally."

For additional information or to schedule an interview with GlobalFit's CEO Tony Frick or Charge's CEO Mike McGrath, please contact Jordi Wallen at GlobalFit via phone at 215-320-4209 or email at [email protected].

ABOUT GLOBALFIT:
GlobalFit's health and wellness technology solutions accelerate wellness program engagement, leading to improved population health. With over 25 years in the corporate wellness space, GlobalFit connects wellness with rewards through its GlobalFit Rewards, Gym Network 360, WalkMyMind and GlobalFit Anywhere platforms. Over 70 million people have access to GlobalFit solutions as part of their worksite wellness program or health plan. GlobalFit Rewards is an innovative reimbursement platform that combines gym reimbursement, real time gym check-in, wearable integration and activity tracking to deliver maximum engagement in a simple, flexible, cloud-based solution. GlobalFit's Gym Network 360 platform offers a comprehensive suite of programs and products with a focus on the essential components of wellness: exercise, eating and education. Gym Network 360 participants gain access to exclusive pricing with some of the biggest brands in nutrition, fitness and wellness. WalkMyMind combines the physical health benefits of walking or running with the mental stimulation of audio podcasts curated from great thinkers, inspiring educators and best-selling authors. GlobalFit Anywhere is the first app connecting users to studios, gyms and trainers using dynamic pricing. GlobalFit Anywhere's dynamic pricing algorithm analyzes supply and demand, and rebalances prices to give the consumer the best possible price. For more information, please visit, https://www.globalfit.com.

ABOUT CHARGE:
Founded in 2015, The Charge Group provides insurer-reimbursed workplace health and nutrition programs. Charge provides a complete 1-on-1 tailored nutrition program specifically designed for each employee to meet their health goals, individual needs and busy lifestyle. Charge's in-person and tele-nutrition services are a simple solution for employers looking to provide their employees with a valued and evidence-based workplace nutrition program at no out-of-pocket cost to the employer or its employees. As an in-network provider for many health insurers, Charge's nutrition counseling is oftentimes 100% covered under preventive services for employees that qualify. For more information, please visit, https://www.thechargegroup.com.

SOURCE GlobalFit

Related Links

http://www.globalfit.com