XpresSpa Group, Inc. (Nasdaq: XSPA), a travel health and wellness
company (the “Company”), today announced it had entered into an
agreement to acquire all of the equity interests of GCG Connect,
LLC d/b/a HyperPointe for $5.5 million in cash, $1 million in
common stock, along with potential additional earn-out payments of
up to $7.5 million over a three-year timeframe based upon future
performance, which may be satisfied in cash or Company common stock
or a combination subject to various terms and conditions. Based
upon preliminary and unaudited results, HyperPointe generated $5.5
million in revenue and $1.2 million in EBITDA during 2021. The
transaction is subject to customary closing conditions and is
expected to close during the first quarter of 2022.
HyperPointe is a leading digital healthcare and
data analytics relationship marketing agency servicing the global
healthcare and pharmaceutical industry. HyperPointe has significant
experience in patient and healthcare professional marketing and
deep technological experience with CXM (customer experience
management) and data analytics. Since June 2020 HyperPointe’s
personnel and suite of services and technology have been used to
develop and deploy the technological infrastructure for
XpresCheck®. This partnership has proven to be trusted, strategic,
and focused in launching COVID-19 screening and testing in U.S.
airports through XpresCheck.
Doug Satzman, XpresSpa Group CEO, stated,
“Expanding our digital health and data footprints is vital to
expanding our business and developing additional routes to revenue.
We view this as the next step in the journey we have been on since
we first laid the groundwork for XpresCheck in the spring of 2020.
HyperPointe was instrumental in helping to secure the CDC
partnership, has been intimately involved in expanding that
relationship, and has extensive healthcare knowledge and
relationships with the pharmaceutical industry.
Ezra Ernst, HyperPointe CEO, added, “We have
worked closely with the XpresSpa Group for more than 18 months and
are excited to be joining their family of brands. We believe there
is great opportunity for us to work collaboratively across multiple
business lines, including data integration and analytics, which
will allow us to bring proactive, personalized healthcare
experiences, clinical intelligence, and biosecurity services to our
many constituents from patients, health care professionals,
governments, and pharmaceutical companies.
The HyperPointe team will join the Company as
part of this transaction. HyperPointe will operate as a stand-alone
entity and join the Company’s family of brands along with
XpresCheck®, XpresSpa®, and Treat™. Mr. Ernst will also take on the
role as Chief Executive Officer of XpresCheck, reporting to Doug
Satzman, XpresSpa Group Chief Executive Officer. Mr. Ernst will
spearhead efforts to rapidly expand and integrate XpresCheck’s
COVID-19 screening and testing business with HyperPointe’s customer
experience management technology, data management know how in
furthering product and service offerings to additional airports and
business customers in the healthcare and pharmaceutical
verticals.
Mr. Ernst has spent 25 years in the healthcare
sector revitalizing and accelerating revenue growth with innovation
and agility to better serve clients, leverage technology, develop
new products, leverage key industry partnerships, working with
multiple presidential administrations and gaining access to new
markets. His prior roles have included President - OptumHealth
Education at UnitedHealth Group, General Manager at WebMD, and CEO
at Physician’s Weekly.
Bruce Bernstein, XpresSpa Group Chairman of the
Board, stated, “The extension of the CDC program underscores the
importance of proactive bio-surveillance testing across our
nation's airports and the leading role that XpresCheck is playing
in monitoring the potential risks that may be entering our borders.
Today’s modern consumers desire digital connections, services and
safety when they travel. With HyperPointe joining our organization,
I see them as an additional catalysts to further expand our
relationship with the CDC and new revenue streams by moving
XpresCheck into the digital health and biosecurity ecosystems.”
About XpresSpa Group, Inc.
XpresSpa Group, Inc. (Nasdaq: XSPA) is a leading
global health and wellness holding company operating three distinct
brands: XpresCheck®, XpresSpa®, Treat™. XpresCheck is a leading
on-site airport provider of COVID-19 screening and testing with 14
locations in 12 domestic airports. XpresSpa is a leading airport
retailer of spa services and related health and wellness products,
with 43 locations in 21 airports globally. Treat is a travel health
and wellness brand that is providing on-demand access to healthcare
through technology and personalized services.
To learn more about XpresSpa Group, visit:
www.XpresSpaGroup.com.To learn more about XpresCheck, visit:
www.XpresCheck.com.To learn more about XpresSpa, visit
www.XpresSpa.com.To learn more about Treat, visit:
www.Treat.com.
Twitter: @xprescheck and Instagram:
@realxprescheckTwitter: @XpresSpa and Instagram: @XpresSpaTwitter:
@Treat_Care and Instagram: @treat_care
About HyperPointe™
HyperPointe is a leading digital healthcare and
data analytics relationship marketing agency servicing the global
healthcare and pharmaceutical industry located in Teaneck, NJ.
Throughout its history of 35+ years, HyperPointe has served as a
valuable partner to a diverse array of global and domestic health
brands by building deep, personal connections to the patients,
caregivers, and healthcare providers they serve. To learn more,
visit www.Hyperpointe.com
Forward-Looking Statements
This press release may contain "forward-looking"
statements within the meaning of Section 27A of the Securities Act
of 1933, and Section 21E of the Securities Exchange Act of 1934.
These include statements preceded by, followed by or that otherwise
include the words "believes," "expects," "anticipates,"
"estimates," "projects," "intends," "should," "seeks," "future,"
"continue," or the negative of such terms, or other comparable
terminology. Forward-looking statements relating to expectations
about future results or events are based upon information available
to XpresSpa Group as of today's date and are not guarantees of the
future performance of the Company, and actual results may vary
materially from the results and expectations discussed. Additional
information concerning these and other risks is contained in
XpresSpa Group’s most recently filed Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and
other Securities and Exchange Commission filings. All subsequent
written and oral forward-looking statements concerning XpresSpa
Group, or other matters and attributable to XpresSpa Group or any
person acting on its behalf are expressly qualified in their
entirety by the cautionary statements above. XpresSpa Group does
not undertake any obligation to publicly update any of these
forward-looking statements to reflect events or circumstances that
may arise after the date hereof.
Investor RelationsICRRaphael
Grossir@xpresspagroup.com(203) 682-8253
MediaJulie
FergusonJulie@jfprmedia.com(312) 385-0098
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