Fitness company Tivity Health said it has agreed to be acquired and taken private by investment firm Stone Point Capital for $2 billion in cash.
Founded in 1981, Tivity Health, Inc.’s wholly-owned subsidiary provides specialized, comprehensive solutions to help people improve their physical, emotional, and social health, thereby reducing direct medical costs and health care related to lost employee productivity costs. The company provides medical, preventive, and wellness services to consumers through cell phones, mobile devices, direct mail, the Internet, face-to-face consultations and venue-based interactions. Tivity has been experimenting with more virtual offerings in recent months, offering “live with a trainer” classes for members who want to stay physically active at home.
Tivity said that after receiving an unsolicited offer from Stone Point, it held discussions with a number of potential buyers before deciding on a private equity buyout.
