EGYM, the global fitness technology and corporate health innovation leader, has acquired Hussle, a leading player in the UK’s corporate fitness market. By joining forces, EGYM further expands its leading position in the booming market of Europe with its corporate fitness network EGYM Wellpass.
Wellpass’ vision is to provide all employers with qualified yet inexpensive products and services to keep employees fit and healthy within a seamless network of partner facilities. With the integration of Hussle, this now includes unlimited access to a network of up to 1,500-plus gyms, pools and spas via one discounted pass, covering 96% of UK regions in England, Scotland, Wales and Northern Ireland.
“From our initial conversations, it was evident that Jamie Ward and Neil Harmsworth wanted to genuinely enhance an industry they’re passionate about when they founded Hussle 13 years ago,” said Roesch-Schlanderer, the CEO of EGYM. “Their enduring entrepreneurial spirit, particularly evident during the pandemic, is commendable. Their track record in establishing an outstanding employee wellness company is truly inspiring. The NHS’s prioritization of prevention over repair provides significant opportunities. We wholeheartedly share this belief and are excited to begin this journey together.”
Jamie Ward, Hussle’s CEO, added, “From the moment I met Philipp and his team I knew that EGYM’s proposition was game-changing. As I understood EGYM’s products better and listened to their vision, I realized I was looking at the future and wanted Hussle to be a part of it. We started Hussle back in 2011 to make fitness easily available to everyone. Our vision has always relied on a super strong fitness industry and the EGYM team shares that core belief. We’re delighted to help evolve EGYM’s vision into reality. We’re just getting started. There will be huge things to come.”
“This is a landmark deal for the fitness industry which links the next-generation gym tech of EGYM with the fast-growing corporate benefits space that Hussle enables for our fitness operator partners through companies like AXA Health and Bupa,” said Neil Harmsworth, the COO of Hussle. “I’m particularly excited about the opportunity to combine our corporate customer proposition with EGYM’s revolutionary gym tech so that our fitness operator partners can benefit from both new customers and the best in class gym equipment and software.”
Wellpass managing director Nicolas Stadtelmeyer said, “We warmly welcome Jamie, Neil, and the entire Hussle team to EGYM. Our mission is to foster health and well-being in every workplace. With over 32 million employees and a €2.5 billion corporate wellness market, stepping into the UK market was a logical and strategic move. Following our entry into France, we now encompass the three largest European economies. The future holds great excitement for us.”
Dynamic market growth
Hussle’s corporate sales grew over 250% in 2023 and are set to continue that trend in 2024. Almost one million individuals in the UK have worked out using Hussle. The UK corporate wellness market is expected to grow at a compound annual growth rate of 4.72%, reaching a market size of nearly £3 billion (€3.4 billion) over the next five years.
Industry experts anticipate a robust global average annual growth rate of seven percent in the corporate wellness market until 2029, projecting it to exceed €73 billion. The demand is poised to escalate as an increasing number of businesses across all sectors initiate wellness programs for their employees. These workplace wellness initiatives enhance productivity and curtail the expenses associated with sick leaves. Moreover, the growing recognition of the significance of employee health and well-being is anticipated to drive further expansion in the corporate wellness market.
How it works
Companies sign a framework agreement with EGYM Wellpass or Hussle and determine the personal contribution their employees pay for participation. After registering, they have immediate access to around 14,500 exercise facilities in Germany, Austria, the UK, France, and Belgium and a constantly growing range of online courses. Usable tax benefits further reduce costs for employees. Thanks to this attractive offer, corporate fitness reaches particularly those people who were not previously active in exercising. Therefore, it is not only the fitness clubs, the employees, and the employers who benefit from the positive effect, but entire national economies.
The parties involved have agreed not to disclose the purchase price.
