11 April 2022
Carey Olsen acts in Gympass' acquisition of health chatbot Vitalk
Lawyers from Carey Olsen's Cayman Islands corporate practice have acted in long-standing client Gympass' purchase of Vitalk, the artificial intelligence (AI) chatbot virtual health assistant with a focus on mental health care, through the unicorn's acquisition of TNH Digital Health, the creator of the AI platform.
The acquisition expands Gympass' wellness service offering and will see Vitalk incorporated as part of Wellz, Gympass' own mental health platform. It will enable Gympass subscribers to gain access to individual and group therapy sessions provided by qualified professionals, on-demand content, and clinical monitoring.
Partner Alistair Russell and associate Trevor McCabe advised Brazilian startup TNH Digital Health on the Cayman law aspects of the sale, while partner Nick Bullmore and counsel Doug Molyneux advised Gympass.
Alistair said: "Carey Olsen is delighted to have assisted on the exciting combination these two businesses. Having worked with and witnessed the growth of both clients' platforms over the years, it is immensely gratifying for us to anticipate their further innovation in the healthtech space, particularly given the focus on the critically important area of mental health."
Founded in Brazil in 2012, Gympass, which is now headquartered in New York, enables companies to offer gym access to their employees through a network of more than 50,000 gyms and studios worldwide, while also offering other therapy and guidance services through its wellness subscription platform.
Terms of the transaction were not disclosed.