Foley Hoag LLP recently represented ShapeUp, Inc. in its sale to Virgin Pulse, Inc., a leading provider of social wellness solutions to organizations worldwide.
Founded in 2006, Providence, RI-based ShapeUp provides highly-configuarable, socially-focused employee health and wellbeing solutions in 25 languages to more than 800 customers and two million users worldwide, including many of the Fortune 500. ShapeUp’s market-leading challenge platform and wellbeing solutions leverage the power of social engagement, behavioral economics, and evidence-based science to allow employers of all sizes to unite their employees in a collective effort to improve health and enhance corporate culture.
Virgin Pulse concurrently acquired the Global Corporate Challenge (GCC), a provider of corporate wellness solutions based in Melbourne Australia. The combined company, which Virgin Pulse describes as “the world’s largest, most comprehensive technology-enabled wellbeing software provider,” is held by Virgin Pulse investors Insight Venture Partners and Sir Richard Branson’s Virgin Group, ShapeUp investors Cue Ball Capital and Excel Venture Management, and GCC investors, among others.
The Foley Hoag M&A team was led by partner Eric Belsley, with transactional support from associates Mike Robbat, James Schneider and Alex Khalarian, tax and benefits advice from partners Earl Mellott and Terry Martland, health compliance advice from partner Colin Zick, employment and labor advice from Mike Rosen, and intellectual property advice from partner Josh Jarvis.