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Falcon Advises Wellness Coaches in its Acquisition of Benovate Inc.

WAYNE, PENNSYLVANIA – June 22, 2021: Falcon Capital Partners, LLC (“Falcon”), a leading middle-market investment bank, is pleased to announce the acquisition of Benovate by Wellness Coaches USA (“Wellness Coaches”).

Wellness Coaches, the leading provider of health, safety and wellbeing solutions in the workplace, has expanded its capabilities in the digital healthcare industry with the strategic acquisition of Benovate, a next generation digital health and wellness platform for employers.

Through the acquisition, Wellness Coaches will enhance its existing Healthy Ways® platform utilizing Benovate’s patented technology that seamlessly integrates high-tech, predictive analytics, machine learning and data to provide a unique user experience for each employee. This new smart technology, coupled with personalized coaching from trained and licensed coaches and dietitians, will help users identify and reduce health risks before they become costly medical conditions.

“The last 18 months have amplified the critical need for consumers and businesses alike to prioritize improving personal health and well-being goals,” said Rob Putnam, CEO of Wellness Coaches. “This latest acquisition further solidifies our position as an innovative market leader and accelerates our on-going mission to reimagine a better future for healthcare. A future that combines science, data and technology, with the power of the human touch, to meet the evolving needs of our customers.”

Healthy Ways® now uses a sophisticated rules engine, and thousands of algorithms designed to analyze data from sources such as healthcare claims, coaching interactions, biometrics, wearables and employee assessments to provide employees with a personalized digital health dashboard based on their individual needs, interests, medical history and readiness to change. Features include an easy to use and interactive platform for setting and tracking personal health goals, as well as access to coaches, dietitians and educational resources to support employees on their journey to a healthier tomorrow. When health goals are achieved, employees are rewarded with points they can instantly redeem for gift cards to a variety of retailers, airlines and professional services.

“Wellness Coaches is an innovative and cutting-edge company that has a proven track record for transforming how individuals view and think about their health,” said Mark Walinski, CEO of Benovate. “The decision to join Wellness Coaches was the right next step for us. We are confident that the combination of our patented technology with the power of live coaches and dietitians will deliver industry leading outcomes and revolutionize how people live, work and interact via the Healthy Ways® platform for many years to come.”

Falcon served as sole financial advisor to Wellness Coaches. Falcon’s Founder and Managing Director Ted Stack writes, “The addition of Bennovate’s technology platform will greatly enhance Wellness Coaches ability to offer a cutting edge tech enabled solution to its clients and set the Company apart in a growing segment of the healthcare market.”

On the company’s relationship with Falcon, Rob Putnam commented, “Ted and his team have been our trusted advisors for a number of years, providing us with invaluable guidance along the way, which has allowed us to rapidly grow into a leading tech enabled wellness organization.”

The Falcon deal team was led by Managing Director Ted Stack and Vice President Don Wanner. For more information please contact Ted at tstack@falconllc.com, 610-989-8901 or Don at dondwanner@falconllc.com, 610-989-8907.