BIDS.L Regulatory News (BIDS)

23 Jun 2008 07:00



ADDleisure Plc / Epic: ADE.L / Index: AIM / Sector: Leisure

23 June 2008

ADDleisure Plc ('ADDleisure' or 'the Company')

PruHealth Extends Contract With Fitbug Ltd

ADDleisure Plc, the AIM traded company formed to develop products and services in the health and wellness sector, is pleased to announce that it has, through its 50/50 joint venture Fitbug Ltd ('Fitbug'), signed a five year extension with leading private medical insurance company PruHealth. This agreement will extend the existing three year contract to supply memberships of Fitbug.com to PruHealth policy holders to 2014.

PruHealth, a joint venture between Prudential and Discovery Holdings from South Africa, offers a unique form of health insurance, which recognises and rewards members with lower healthcare insurance premiums for taking care of their health. The interactive tracking devices and web technology offered by Fitbug  is incorporated into a PruHealth policy holder's overall lifestyle profile, which takes factors such as physical activity, screening, nutrition and non-smoking into account, and earns the individual 'Vitality Points' for living healthily. At the end of the year, the greater the number of Vitality Points the policy holder has earned, the greater the potential reduction in future premiums or cash back could be.

Paul Landau, Managing Director of Fitbug  Ltd, said, "Our Fitbug online coaching and tracking technology has proven to be a great success over the first two years of our relationship with PruHealth, perfectly complementing its innovative approach to health insurance through motivating and rewarding people for sustaining a healthy and active lifestyle. We are therefore delighted that PruHealth has elected to extend this relationship for an additional five years, and together we hope to incentivise more people into incorporating exercise and a good diet into their daily routine."

Nick Read, Director of Business Development for PruHealth comments, "Fitbug has become a core element of our Vitality programme; members are motivated to achieve healthy levels of daily activity through usage of the service. PruHealth has benefited greatly from being able to track the activity data Fitbug  provides,  which has allowed us to recognise our customers' efforts to look after themselves and award Vitality points, even where that involves walking the dog or getting off the bus a stop early. We are looking forward to working with Fitbug going forward and building on the firm foundations of the last two years."

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For further information visit www.addleisure.com or contact:

About ADDleisure plc

Floated on AIM in October 2004, ADDleisure and its 29% shareholder, BUPA, believe that the increase in awareness of the importance of physical health and well-being has resulted in an opportunity to develop and promote new highly differentiated offerings to the health and wellness sectors.

It has three key investments: Fitbug Limited, developers of an online personal health and well-being coach; Digital Plantation Limited, developers of Ez-Systems, intelligent booking software; and Movers and Shapers Limited, a groundbreaking retail concept for health and fitness services.

The Company has a highly experienced management team including Allan Fisher, founder and former CEO of Holmes Place plc; and David Turner, founder and former director of LA Fitness plc