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LifeSpeak Acquires Online Wellness Company Lift Digital for CDN 15m
Wednesday 13 October 2021

Canada-based mental health and wellbeing platform LifeSpeak Inc. (TSX: LSPK) has completed the acquisition of Montreal-based online wellness company Lift Digital Inc., for CDN 15m (USD 12.06m), the company said.

The purchase price for the acquisition consists of CDN 9.5m (USD 7.6m) in cash and approximately 550,000 common shares of the company issued at the initial public offering price of CDN 10.00 (USD 8) per share.

Lift provides proactive, and engaging wellness services via on-demand, automated and live sessions in areas including general fitness, mindfulness, cardio, strength, yoga, pre-natal, Pilates, and many more.

LifeSpeak believes that the alignment of both company's SaaS-based business models, the global reach that this approach enables, and the focus on serving employers directly and through health plans and insurers combine for a natural and seamless partnership with significant cross-sell opportunities to existing and new corporate clients of both companies.

Lift session is a digital fitness platform that helps wellness providers offer premium virtual fitness services to their clients.

LifeSpeak Inc. is a software-as-a-service provider of a platform for mental health and total wellbeing education for organisations committed to taking care of their employees and customers.
Date Published: 13/10/2021