A North East-created health platform that rewards staff for keeping fit has been snapped up by a firm owned by former Hull Kingston Rovers rugby stars.
Reward Me Now was developed by Redu, based in Seaham, County Durham, offering employees a variety of discounts as rewards for the more an individual, team, or entire workforce exercises.
The platform and app, which has already been adopted by several large employers, including Eddie Stobart and Hays Travel, sets activity goals – such as daily step targets – with live leaderboards giving staff a sense of belonging as well as instilling healthy competition.
Read more: Find more tech stories here
Health achievements can then be rewarded with credits to spent at scores of retailers.
Now Hull-based Latus Health, which is owned by former Hull Kingston Rovers rugby stars Jack and Sam Latus together with their brother Will, has bought the Reward Me Now platform as it targets a number of acquisitions in a three-year strategy to become the 海角视频’s first fully remote occupational health services provider.
The deal will allow Latus Health to offer businesses a custom-branded app, designed to improve employee wellbeing and engagement, including the employee rewards for making healthy decisions.
The firm provides a full spectrum of occupational health services designed to protect businesses and promote a healthy workforce, and it has seen rapid year-on-year growth to record turnover of £5.75m with Ebitda of £2.5m in its 2021 financial year.
Most Read
Chief executive Jack Latus said: “Our three-year strategy is focused on capitalising and building upon this achievement by improving access to preventative healthcare through digital-based solutions.
“The acquisition of Reward Me Now will be the first of many as Latus Health begins to develop its, first of its kind, connected health platform (CHP), with the objective of delivering a holistic support ecosystem for every employee, ensuring the care they require is available within hours at the simple click of a button.”
Gary Hunter, chief executive of Redu Group, said: “The Reward Me Now platform has already been used to great effect by several large employers, and has encouraged people to increase their level of physical activity, which also has a positive effect on productivity.”
The firm is looking to acquire businesses in the occupational health, physiotherapy, and GP healthcare sectors. It is currently targeting the 海角视频 market, but has plans to expand internationally.
Advising Latus Health on its acquisition of the Reward Me Now business from Redu Group was Newcastle-based RGCF partner and head of corporate finance, Carl Swansbury, corporate finance director Rhiannon Nightingale, and corporate finance assistant Ben Kain.
Legal advice was provided by the Newcastle office of law firm Pepperells, led by associate solicitors Peter Millican and solicitor Vanessa Saleh.
RGCF will work closely with Latus Health to identify further acquisition targets and advise on subsequent transactions.
Don’t miss
Redu Group was advised by law firm Weightmans, led by partner Paul Wigham.
Mr Swansbury said: “The acquisition of this business is an important step forward in the growth strategy of Latus Health and brings value to its capabilities. We look forward to supporting the company with further acquisitions in the months and years ahead.”
Mr Millican added: “We can see how successful the Reward Me Now platform is becoming and we’re thinking about adopting it for Pepperells. Latus Health represents what we believe in as a firm and aligns with our ‘Partner for Life’ ethos.”
You can join the BusinessLive North East conversation on and