A person workout routines at Planet Health because it reopens at 25 p.c capability in Dorchester, Boston, on February 1, 2021.

Jessica Rinaldi | Boston Globe | Getty Photographs

Planet Health mentioned Tuesday it plans to amass Sunshine Health, operator of greater than 100 Planet Health health golf equipment within the US, for $800 million.

The transaction is anticipated to shut within the first quarter of 2022, the corporate mentioned in a press launch. Planet Health mentioned the deal is projected so as to add to its adjusted earnings this 12 months at a low double-digit share.

Associated Funding Information

CNBC Pro
Raymond James Downgrades Mattress Tub & Past, Says Turnaround Plan ‘Solely Can Be Down the Street’

Chief Govt Chris Rondo mentioned the acquisition of Sunshine Health will assist additional diversify Planet Health into extra geographies. Sunshine Health operates primarily within the Southeast with areas in South Carolina, North Carolina, and Florida.

“Proudly owning company shops is a vital a part of our technique, because it offers us each relevance and credibility when making choices that influence the whole system,” Rondo mentioned.

As soon as the transaction is full, Planet Health could have greater than 200 company areas, or about 10% of its whole portfolio, he mentioned.

Planet Health mentioned it ended 2021 with 15.2 million members, a rise of 1.7 million over the earlier 12 months. It opened 132 areas in the course of the 12 months, exceeding its expectations and taking its whole gymnasium rely globally to 2,254.

Shares of Planet Health rose about 17% in 2021.

Planet Fitness CEO: Omicron's Covid Edition Isn't Causing a Pullback at the Gym



Supply hyperlink