In a move to help elevate employee wellbeing across the European continent, the UK fitness market Hussle, has been acquired by the global fitness technology and corporate health innovation leader EGYM.
Demand for fitness increasing
According to Deloitte’s European Health & Fitness Market Report 2023, the European fitness market has demonstrated resilience and growth. With an increase in the number of regularly active fitness practitioners, despite the challenges of recent times, the demand for fitness is emerging stronger. The report indicates that the European fitness market now serves 63.1 million members, generating total revenues of €28.0 billion.
Reflecting this trend, the employee benefits arm of Hussle’s business grew by over 250% in 2023. They suggest that this trajectory is set to continue in 2024. Almost one million individuals in the UK have worked out using Hussle, enabling them to reap the benefits that fitness activities can have, both on physical and mental wellbeing.
Industry experts anticipate a robust global average annual growth rate of seven percent in the corporate wellbeing market until 2029, projecting it to exceed €73 billion. By joining forces, Hussle is now part of the EGYM Wellpass corporate fitness network, a market leader in this market.
Transforming healthcare from repair to prevention
Hussle partners with companies to enable them to offer their employees unlimited access to a network of up to 1,500+ gyms, pools, and spas via one discounted pass, covering 96% of UK postcode regions in England, Scotland, Wales and Northern Ireland. This is closely aligned with Wellpass’ vision: to provide all employees on the continent with qualified yet inexpensive products and services to keep fit and healthy in a seamless network of partner facilities. This close alignment made the recent acquisition an attractive move for EGYM.
A landmark deal for the UK employee benefits market
By combining Hussle’s expertise with the insight and reach of EGYM Wellpass, the two believe that they are now in a greatly elevated position to improve the range of inclusive, affordable, multi-venue wellbeing options available to employers across the UK.
Commenting on the acquisition, EGYM CEO Philipp Roesch-Schlanderer remarked: “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. 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, said: “From the moment I met Philipp and his team I knew that EGYM’s proposition was game changing. As I got to understand EGYM’s products better and listened to their vision I realised I was looking at the future and I 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.”
Neil Harmsworth, Hussle’s COO, added: “This is a landmark deal for the UK employee benefits market and for the wider fitness industry. By combining the joint expertise of EGYM Wellpass and the Hussle team we can dramatically improve the range of inclusive, affordable, multi-venue wellness options available to employers across the UK.”
Reaching the hard to reach
Hussle and EGYM Wellpass are claiming that this partnership is a significant step-change for employee benefits for two reasons:
- Affordability improves accesses for all: Companies sign a framework agreement with Hussle or EGYM Wellpass and determine for themselves the personal contribution that their employees pay for participation. After registering, they have immediate access to currently 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.
- Supporting the NHS as well as employers and employees: Thanks to this offer, corporate fitness reaches particularly those people who were not previously active in sports. Therefore, they claim that 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.
References:
UK stats: United Kingdom Corporate Wellness Market Size: Report, 2024-2029 (knowledge-sourcing.com)
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