Tivity Health Inc - TVTY STOCK NEWS

Tivity Health, Inc. (Nasdaq: TVTY) reported first-quarter 2022 financial results, showing an 18% revenue increase to $127.5 million, up from $108.1 million in Q1 2021. Despite this revenue growth, income from continuing operations dropped significantly to $0.6 million, compared to $19.9 million in the prior year, primarily due to a non-cash unrealized loss of $22.4 million related to equity in Sharecare. Adjusted EBITDA also decreased to $37.4 million. The company announced a definitive agreement to be acquired by Stone Point Capital, with shareholders set to receive $32.50 per share upon closing.

Tivity Health, Inc. (Nasdaq: TVTY) will release its first-quarter financial results for 2022 on May 5, 2022, after market close. The Company will not hold an earnings conference call due to its pending acquisition by Stone Point Capital, announced on April 5, 2022. Tivity Health continues to support health plans across the nation with services aimed at improving health outcomes and reducing costs for adults. These services include programs like SilverSneakers and Prime Fitness.

SilverSneakers, part of Tivity Health, has launched new programs to engage seniors in the fast-growing sport of pickleball, coinciding with National Pickleball Month in April. Offering 'Pickleball Strength and Skills' and 'Pickleball Open Play', the initiative aims to support the increasing number of older adults participating in the sport. The U.S. now boasts 4.8 million pickleball players, with a significant percentage being seniors. SilverSneakers partners with USA Pickleball and US Senior Pickleball to promote participation and health benefits for older adults.

Tivity Health announced a definitive agreement to be acquired by Stone Point Capital for $32.50 per share, totaling $2.0 billion. This represents a 20% premium over the 90-day average price. Following the acquisition, Tivity will transition to a privately held entity and cease trading on Nasdaq. The transaction is set to close by the third quarter of 2022, pending shareholder and regulatory approval. Tivity's leadership expressed confidence in the deal as enhancing shareholder value while enabling continued support for its health services.

Tivity Health has opened nominations for the 2022 SilverSneakers Instructor of the Year Awards, celebrating instructors who support older adults in fitness. This initiative coincides with the program's 30th anniversary and aims to recognize instructors adapting to challenges posed by the pandemic. Nominations are accepted until April 1 and will be reviewed by a committee, with winners announced in late May. SilverSneakers currently provides fitness options to over 18 million Medicare-eligible Americans, enhancing their health and wellness through various programs.

Tivity Health, Inc. (Nasdaq:TVTY) reported strong financial results for Q4 and FY 2021, with revenues increasing 26.0% to $126.8 million in Q4 and 9.9% to $481.3 million for the year. Income from continuing operations rose 88.8% to $107.4 million. The Company achieved significant growth in both in-person (58.4 million visits) and virtual fitness engagements (3.4 million visits, over 100% increase). Tivity Health also introduced new programs for SilverSneakers members. Looking ahead, the Company expects revenues between $540 million and $580 million for 2022.

Tivity Health, Inc. (Nasdaq: TVTY) will release its fourth quarter and full year 2021 financial results after market close on February 24, 2022. Following the release, a conference call and live webcast is scheduled for 5:00 p.m. ET. Investors can access the call by dialing 844-200-6205 or via the internet at www.tivityhealth.com. A telephonic replay will be available for one week, ensuring investors can catch up on the details.

Tivity Health, Inc. (Nasdaq: TVTY) has appointed Stephanie Davis Michelman as an independent director to its Board of Directors. Michelman, formerly of Bobbi Brown Cosmetics, brings over 15 years of experience in driving growth and profitability across notable consumer brands. Her expertise in digital integration and omnichannel marketing is expected to aid Tivity's strategy, particularly in enhancing services for SilverSneakers members. Michelman will also assume the role of Global Chief Marketing Officer at a prestigious beauty brand later this spring.