Leading British health and wellbeing provider, Westfield Health, has announced its acquisition of European corporate fitness and wellbeing company High Five Health Promotion in a multi-million-pound deal.
The group’s third acquisition in under two years, this latest addition builds Westfield Health’s capabilities in the rapidly growing corporate health and wellbeing market, projected to be worth $66 billion by 2022.
Under the direction of CEO Dave Capper, Westfield Health has diversified into the corporate wellbeing market, offering workshops, health campaigns, screenings and on-site gym management.
By combining forces with High Five Health Promotion who provide onsite corporate fitness and wellbeing services to global brands such as Daimler, KPMG, Shell and NATO, Westfield Health hopes to further strengthen its whole-of-workforce proposition to drive market development and growth.
Reflecting on his decision to sell the company, High Five’s Founder, Paul Kienstra, said: “it was really important to us to find a company that shared our values and vision.
“With Westfield Health’s focus on evidence-based, preventative solutions and community giveback, it was clear that our shared philosophy and complementary capabilities would combine well, building on the success of both companies.”
Extending a warm welcome to the group’s newest member, Westfield Health Group CEO, Dave Capper, described what the acquisition meant for the 100-year-old business.
“Over its history, Westfield Health has built a track record of product innovation.This acquisition represents a continuation of our diversification into the exciting and important wellbeing market.
“By combining the two companies’ expertise, we can accelerate our growth in this industry both in the UK and internationally, allowing us to make a healthy difference to more people.”
With independent research showing that physical activity at work can reduce absenteeism by up to 20% and sick days by 27%, more and more businesses are expected to explore options for keeping their people active, such as coaching, movement spaces, virtual classes or gyms.
It’s an area where many UK businesses currently fall behind: recent research shows that only a quarter (26%) of employees have access to basic fitness facilities such as changing rooms at work.
With seven in ten people believing it’s an employer’s responsibility to support staff with their physical wellbeing, the Westfield Health group hopes to capitalise on growing employee demand with its latest acquisition.