19th Nov 2013 11:16
LONDON (Alliance News) - Health company Ultrasis PLC Tuesday said it has acquired the business assets of wellness provider Step Success for a total cash consideration of less than GBP30,000.
The deal includes a supplier agreement with Fitlinx for the "Pebble", an activity tracking device that tracks steps, distance, calories burned and activity time. Ultrasis will also take over Step Success' current sales contracts which includes both corporate customers and local authorities.
Joel Campbell, the founder of Step Success has taken up a sales and business development role with Ultrasis.
"This is an exciting acquisition that links with our strategy to deliver a wide spectrum of health and wellbeing services. Step Success has a growing reputation for delivering measurable and meaningful health benefit in both the public and corporate sector through the use of its innovative technology," Ultrasis Chief Executive John Smith said in a statement.
"The direct to consumer opportunity associated with Step Success is also of particular interest to our business as we are currently developing the company's on-line business, The Wellness Shop," he added.
Ultrasis saw its shares leap Monday after its said another recent acquisition, screening and wellbeing subsidiary Screenetics UK Ltd, had won three new contracts with customers in the public and private sectors worth an estimated GBP2 million a year.
Ultrasis shares were up another 1.3% at 1.19 pence Tuesday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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