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Entries in Ecuador (1)

Tuesday
Sep162014

Health club Bodytech to move into Ecuador

Bodytech, a Colombian health club company, has entered the Ecuadorian market with its purchase of Phisique, which has three facilities serving 3,000 members in the country.

The agreement was formalized in May, and both companies expect to implement the acquisition during the final quarter of this year.

“This transaction confirms Bodytech’s position as a leader in the fitness market in Latin America,” observes Gigliola Aycardi, Bodytech’s executive vice president. “And, for Phisique, this represents an opportunity for it to intensify its growth efforts in Ecuador, a country with great potential in the region.”

Bodytech executives also are involved in intense negotiations that may lead to the company’s entry into Panama and Costa Rica later this year.

Bodytech currently has 61 sites in Colombia, 13 in Peru, and 44 in Chile (operating under the Sportlife brand); 3,500 employees; and more than 220,000 active members. Last year, it surpassed $120 million in sales, producing a net profit of $30 million; this year, it expects to net $40 million.