EPSOM, England, June 14, 2016 /PRNewswire/ --
Nuffield Health, one of the UK's leading not-for-profit healthcare organisations, today announces that they have exchanged terms to acquire 35 gym sites from Virgin Active. This transaction has been approved by both parties and is expected to complete in the third quarter of 2016, subject to the transfer of existing landlord agreements and the completion of the TUPE consultation process for employees.
With this transaction, Nuffield Health boosts the number of health and wellbeing gym sites to 112. This makes Nuffield Health a leading provider in the consumer health and wellbeing market and allows it to offer both fitness and a range of clinical services to even more individuals in the UK in line with its charitable purpose. The acquisition represents a significant next step in Nuffield Health's strategy to provide a seamless connected health and wellbeing service across the UK, linking up fitness and wellbeing gyms with clinical services and hospitals. The new sites will give Nuffield Health the capacity to offer broader health and wellbeing services such as fitness classes, personal training, swimming lessons, physiotherapy, health checks and nutritional therapy on-site as well as a helpful link to Nuffield Health hospitals.
Nuffield Health already operates 31 hospitals, 77 fitness and wellbeing gyms and over 200 corporate fitness and wellbeing centres to provide a unique end-to-end service for customers and patients, keeping them well and healthy, providing clinical and medical treatment when it is needed and then supporting them to regain their health after treatment.
Steve Gray, Chief Executive Officer for Nuffield Health said: "This acquisition is a great move forward and allows us to increase the pace of delivery of our strategy and our charitable purpose, to help people achieve, maintain and recover to the level of health and wellbeing they aspire to. Research shows that UK consumers have an appetite for direct access to a range of health and wellbeing services in their communities and this is also true of employers providing corporate fitness and wellbeing facilities for their staff. This acquisition will increase our reach in key sought-after locations and allow both members and non-members access to broader health and wellbeing services as well as proximity to Nuffield Health hospitals. I'm delighted to welcome new members and teams to the Nuffield Health family and firmly believe that they will benefit from our broader health and wellbeing model."
Paul Woolf, Chief Executive of Virgin Active Group, commented: "This is a positive deal with a compelling rationale for both ourselves and Nuffield Health. We believe that the success of these clubs will continue under Nuffield Health and are pleased that the members and club teams will be transferred, which was a very important consideration for us."
Nuffield Health has a proven track record in the successful acquisition and integration of gym facilities from other operators. In 2007, Nuffield Health consisting primarily at that time of hospital sites and a range of clinical health services, entered the consumer health and wellbeing market with the acquisition of Cannons Health Clubs.
Upon completion, the acquired sites will switch over and begin trading as Nuffield Health. At that point members of the Virgin Active gyms being acquired will have their membership automatically transferred to Nuffield Health.
Download video statement from Greg Hyatt, Chief Financial Officer, Nuffield Health at https://we.tl/JygiTQjFbl
About Nuffield Health
Nuffield Health is one of the leading not-for-profit UK healthcare organisations, delivering complete and connected health and wellbeing services.
To help people get healthy and stay healthy, Nuffield Health provides access to thousands of health experts through 31 hospitals, 77 fitness and wellbeing gyms, 212 corporate fitness and wellbeing centres and 4 stand-alone medical centres. As well as our gyms and hospitals, Nuffield Health's broad health and wellbeing services also include health assessments, nutritional therapy, occupational health, diagnostics and physiotherapy, of which we have the largest network of physiotherapists outside of the NHS.
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SOURCE Nuffield Health.