Hampton, NH, January 11, 2022 /prnewswire/- Planet Health, Inc. (NYSE: PLNT), one of many largest and quickest rising franchisors and operators of health facilities with extra members than some other health model, at the moment introduced that it has acquired Sunshine Health Progress Holdings, LLC. To have signed a particular settlement. (“Sunshine Health”), a principal proprietor and operator of over 100 Planet Health golf equipment southeast america the worth of which in a money and inventory transaction $800 million,

Beneath the phrases of the settlement, Planet Health is anticipated to fund the money portion of the acquisition worth by way of proceeds from a brand new collection of securitized notes issued below their present securitization financing facility and out there money readily available. The transaction is anticipated to shut within the first quarter of 2022, and primarily based on Sunshine Health Areas’ historic and anticipated monetary outcomes, Planet Health’ adjusted internet earnings per diluted share is anticipated to be within the low double-digit percentages. The acquired shops for its wholly owned securitization subsidiaries and are anticipated to contribute to their respective profitability, consistent with present company-owned shops. With regard to securitization debt financing, Planet Health additionally expects to refinance its Sequence 2018-1 Class A-2-I Notes, as follows September 30, 2021there was a serious steadiness of virtually $558 million, The acquisition and debt financing is anticipated to end in a barely decrease debt-to-adjusted EBITDA ratio on a pro-forma consolidated foundation.

Sunshine Health was the primary franchisee in Planet Health Methods and has been supported by TSG Client Companions (“TSG”) since 2017. Sunshine Health operates 114 places. alabama, Florida, Georgia, North CarolinaAnd South Carolina Which will probably be added to the portfolio at the moment owned by Planet Health Firm, which is based totally within the Northeast. When the transaction is closed, Shane McGuinnessThe co-founder and CEO of Sunshine Health, which has been the proprietor and operator at Planet Health Methods for almost 20 years, will oversee the operations of the mixed company retailer portfolio.

“We’re excited to announce the acquisition of Sunshine Health, certainly one of our best-performing franchises within the system, places that may present geographic diversification to our present company retailer portfolio and supply a protracted runway for future retailer progress. markets,” mentioned Chris RondoCEO of Planet Health. “Possession of company shops is a crucial a part of our technique, because it offers us each relevance and credibility when making choices that impression the whole system. Moreover, becoming a member of our company crew is a administration crew that has constructed among the top-notch shops. -level benefit of producing places in our system that may improve our company retailer management and capabilities.”

Rondo continued, “Following this buy, we may have greater than 200 company shops, or roughly 10 % of our whole techniques, permitting us to take care of our asset-light enterprise mannequin that is a crucial a part of our shareholder worth proposition. Is a part of.”

“Partnering with TSG has been an unimaginable expertise. Their help for our enterprise and progress has by no means waned and this has given us the following thrilling second in our progress as a company,” mentioned Shane McGuinness, CEO of Sunshine Health. “We stay up for becoming a member of the Planet Health company crew and be a part of the following chapter of the model, working with Chris and the broader crew to drive continued success in company-owned shops.”

Michael LemonThe Managing Director of TSG commented, “My accomplice, Pierre Lecomte, and thru our lengthy funding and possession historical past in each Planet Health and past, Sunshine Health, I’ve a deep understanding and respect for Planet Health and its administration crew. We’re happy that by way of this transaction we are going to as soon as once more be a shareholder in Planet Health and imagine it’s nicely positioned to reap the benefits of vital progress alternatives within the years to return.”

TSG’s partnership with the Planet Health model started in November 2012, when TSG acquired a majority stake in Planet Health. For almost 5 years, TSG and Planet Health labored collectively to develop the Planet Health model and enhance the help and worth proposition for each members and franchisees. In August of 2015, Planet Health started buying and selling publicly on the New York Inventory Trade. After a profitable partnership, TSG fully exited its funding in PLNT as of Could 2017. In December of 2017, TSG acquired a majority stake in Sunshine Health.

Planet Health 2021 Preliminary Key Yr Finish Metrics
Planet Health ended fiscal 12 months 2021 with 15.2 million members, a rise of 1.7 million members over the previous 12 months. In 2021, 132 new shops have been opened and the corporate ended the 12 months with 2,254 shops worldwide. Presently, 98 % of Planet Health’ shops are open, together with one hundred pc house places.

“We now have exceeded our expectations for each member and new retailer progress in 2021. The silver lining of the pandemic is that it has opened folks’s eyes to the significance of health and total well being, and we’re seeing that Members visiting our shops are visiting our shops extra ceaselessly than prior to now, demonstrating their dedication to enhancing their well being,” Rondo mentioned. “There’s large long-term alternative for our model to take folks off the sofa, which is why as a pacesetter within the health business, we’re making this strategic funding for the longer term.”

about planetary well being
established in 1992 Dover, NHPlanet Health is likely one of the largest and quickest rising franchisors and operators of health facilities United States By the variety of members and locations. In type of December 31, 2021Planet Health had 15.2 million members and a pair of,254 shops in 50 states District of Columbia, Puerto Rico, Canada, Panama, Mexico And Australia, The corporate’s mission is to reinforce folks’s lives by offering a top quality health expertise in a welcoming, non-intimidating atmosphere, which we name the Judgment Free Zone., Greater than 90% of the Planet Health shops are owned and operated by impartial enterprise women and men.

About Sunshine Health Holdings LLC

Opening its first location in 2003 Altamonte Springs, FloridaSunshine Health was the primary Planet Health franchise and is now one of many largest operators throughout the Planet Health model. Began by very long time greatest pals, Shane McGuinness And Eric DoreSunshine Health now operates in 114 places. In the present day, Sunshine Health nonetheless stays true to the unique mission of enhancing folks’s lives by offering a top quality expertise in a welcoming, non-intimidating atmosphere often known as the Judgment Free Zone.,

About TSG Client Companions

TSG Client Companions, LP is a number one personal fairness agency that companions with founders and administration groups to speed up the expansion and improvement of best-in-class consumer-facing companies. Since its inception in 1986, TSG has been an energetic investor within the shopper business. Consultant previous and current accomplice firms embody Backcountry, Canyon Bicycles, Duckhorn, Dutch Bros, Elf Cosmetics, IT Cosmetics. Joe Hudson’s collision heart, Mavis Tires, Planet Health, Popchips, Energy Cease, Revolve, Revolt, Robinhood, Smashbox, Stumptown and Vitaminwater. For extra info, together with a whole checklist of TSG’s present accomplice firms, go to tsgconsumer.com.

forward-looking statements

This press launch comprises “forward-looking statements” throughout the that means of federal securities legal guidelines, which contain dangers and uncertainties. Ahead-looking statements embody the corporate’s statements relating to the acquisition of Sunshine Health and the potential advantages thereof, in addition to different statements, estimates and estimates that aren’t solely associated to historic info. Ahead-looking statements will be recognized by phrases reminiscent of “perception,” “expectation,” “goal,” plan, “will,” “prospects,” “future,” “technique” and comparable references to future durations, though not all. Ahead-looking statements comprise these figuring out phrases. Ahead-looking statements should not an assurance of future efficiency. As a substitute, they’re primarily based solely on the corporate’s present beliefs, expectations and assumptions about the way forward for the enterprise, future plans and techniques, projections. Because of anticipated occasions and developments, financial system and different future circumstances. As a result of forward-looking statements relate to the longer term, they’re topic to inherent uncertainties, dangers and adjustments in circumstances which can be tough to foretell and plenty of of that are past the management of the Firm. Precise outcomes and monetary circumstances may differ materially from these expressed in forward-looking statements.

The Firm’s acquisition of Sunshine Health is topic to the closing phrases, together with phrases regarding financing the acquisition and consent from third events. Vital components that would trigger our precise outcomes to vary materially embody the chance that the events could also be unable to fulfill the circumstances of discontinuing the acquisition of Sunshine Health in a well timed method or in any respect, the chance that the Sunshine Health administration crew could not proceed its affiliation with the Firm. For the time interval that we anticipate or in any respect, the chance of liabilities associated to the acquisition, the chance that the financing is probably not met on the phrases or timeline that we anticipate or in any respect, the chance that the Firm will probably be faraway from the transaction could not obtain the anticipated revenue, dangers and uncertainties related to the period and impression of COVID-19, which can end result within the closure of shops and the discount of our internet subscription base and provides rise to a number of of the opposite dangers and uncertainties or could enhance as described herein, competitors within the health business, the flexibility of the corporate and franchisee to draw and retain members, the flexibility of the corporate and franchisee to establish and safe appropriate websites for brand spanking new franchise shops, adjustments in shopper demand , adjustments in tools prices, means of the corporate to increase into new markets domestically and internationally, working prices for the corporate and the franchisee, availability and value of capital for the franchisee, acquisition exercise, improvement and adjustments in legal guidelines and rules, our Our considerably elevated indebtedness because of refinancing and securitization transactions and our means to make future indebtedness or extra indebtedness or refinance, our future monetary efficiency and our means to pay principal and our indebtedness, our company construction and tax receivable agreements, Curiosity on failures, interruptions or different components described within the Firm’s info techniques or know-how, normal financial circumstances and different components described within the Firm’s annual report on Type 10-Okay for the 12 months ended. December 31, 2020, and the corporate’s different filings with the Securities and Trade Fee. In mild of the numerous dangers and uncertainties inherent in forward-looking statements, buyers shouldn’t place undue reliance on forward-looking statements, which solely replicate the views of the corporate as of the date of this press launch. Besides as required by regulation, neither the Firm nor any of its associates or representatives undertake any obligation to offer extra info or to right or replace any info set forth on this launch, whether or not new info, future improvement or in any other case.

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