October 24, 2013 – BellMark Partners LLC (“BellMark”) is pleased to announce that it advised Healthtrax Fitness & Wellness, Inc. (“Healthtrax” or the “Company”) in the sale of its Work-Fit Division (“Work-Fit”) to Agility Health, Inc. (“Agility”, TSX VENTURE: AHI). Based in Glastonbury, CT, Work-Fit is an innovative provider of cost-containment solutions to Fortune 100 companies through its proprietary worksite-based injury prevention and management programs.
Founded in 1992, Work-Fit brings a proven sports medicine/athletic training model into the workplace and currently serves more than 50,000 client employees across job sites in 10 states. Work-Fit implements customized programs that include individual and group-based solutions, first aid-level interventional services, and other rehabilitation and treatment-based solutions. Utilizing a distinctive “industrial-athlete” model that delivers affordable, effective solutions for clients, Work-Fit drives substantial savings in workers compensation costs and significant decreases in on-the-job injury rates.
Healthtrax Fitness & Wellness, Inc. is a leading operator of fitness centers throughout the Northeastern U.S. that provide wellness and preventative health care programs to individuals, companies, hospitals, and insurers. Founded in 1979, Healthtrax has been at the forefront of preventative health care with its world-class fitness centers and partnerships with leading hospital systems and medical facilities. Healthtrax improves the health and well-being of individuals with unique programs that integrate the best in overall fitness, wellness programs, medical services, and rehabilitation. Healthtrax is a portfolio company of Ironwood Capital, a leading private equity and mezzanine investor based in Avon, CT.
About Agility Health
Agility Health operates a multi-state network of outpatient rehabilitation clinics and provides contracted services to hospitals, nursing homes and other institutional clients. Agility’s primary focus is on care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, and rehabilitation of injured workers. In addition, Agility provides a number of ancillary services related to physical rehabilitation, including practice management software systems and custom orthotics. Agility operates 68 outpatient or onsite rehabilitation locations in sixteen states and provides rehabilitative services to 41 hospitals and inpatient rehabilitation units.
About BellMark Partners
BellMark is a boutique investment banking firm focused on providing advisory services to middle market and lower middle market companies in the consumer products, industrial, healthcare, and business services industries. BellMark provides advice to family businesses, entrepreneurial or closely-held companies, private equity-owned companies, and small-cap public companies. Services include: mergers and acquisitions, strategic alternatives reviews, restructurings, debt & equity capital raising, valuations & fairness opinions.