The XpresSpa Group said this week it has entered into an agreement to acquire all of HyperPointe, a digital healthcare data analytics and marketing agency, for $5.5 million in cash, $1 million in common stock, along with potential additional earn-out payments of up to $7.5 million over a three-year timeframe based upon future performance.
The transaction, subject to customary closing conditions, is expected to be finalized during Q1 2022. Since June 2020 HyperPointe’s personnel and suite of services and technology have been used to develop and deploy the technological infrastructure for XpresCheck, XpresSpa’s COVID testing locations at airports.
“We view this as the next step in the journey we have been on since we first laid the groundwork for XpresCheck in the spring of 2020,” said Doug Satzman, XpresSpa Group CEO. “HyperPointe was instrumental in helping to secure the CDC partnership, has been intimately involved in expanding that relationship, and has extensive healthcare knowledge and relationships with the pharmaceutical industry.”
The HyperPointe team will join the XpresSpa Group as part of this transaction, operating as a stand-alone entity, joining the XpresCheck, XpresSpa and Treat brands.
HyperPointe CEO Ezra Ernst will add the role as chief executive officer of XpresCheck
“We have worked closely with the XpresSpa Group for more than 18 months and are excited to be joining their family of brands,” said Ernst. “We believe there is great opportunity for us to work collaboratively across multiple business lines, including data integration and analytics, which will allow us to bring proactive, personalized healthcare experiences, clinical intelligence, and biosecurity services to our many constituents from patients, health care professionals, governments, and pharmaceutical companies.”
