Summary
Life Time Group Holdings, Inc. provides health, fitness, and wellness experiences to a community of individual members in the United States and Canada. It primarily engages in designing, building, and operating sports and athletic, professional fitness, family recreation, and spa centers in a resort-like environment, principally in suburban and urban locations of metropolitan areas. The company also offers fitness floors with equipment, locker rooms, group fitness studios, indoor and outdoor pools, bistros, indoor and outdoor tennis courts, basketball courts, LifeSpa, LifeCafe, and childcare and Kids Academy learning spaces. Its Life Time Digital provides live streaming fitness classes, remote goal-based personal training, nutrition and weight loss support, curated award-winning health, and fitness and wellness content, as well as access to Apple Fitness+ that offers members content and wellness data monitoring. The company is also involved in media activities, conducting athletic events, and provision of related services. As of December 31, 2021, it operated 151 centers in 29 states and one Canadian Province, 63 of which were owned, including ground leases and 88 of which were leased. The company was formerly known as LTF Holdings, Inc. and changed its name to Life Time Group Holdings, Inc. in June 21, 2021. Life Time Group Holdings, Inc. was founded in 1992 and is headquartered in Chanhassen, Minnesota.
History
The company was founded by chairman and chief executive officer, Bahram Akradi. The company was incorporated in 1990 as FCA, Ltd., a Minnesota corporation, and registered the name Life Time Fitness in 1992. In 2017, the word "Fitness" was officially dropped from the brand name, and the company became simply Life Time, Inc. The first club opened in Brooklyn Park, Minnesota.Several locations were added to the Minneapolis–St. Paul area before the chain expanded to suburban communities in other states. As of mid-2021, the locations include 156 athletic clubs, 3 apartment home residences, and 10 coworking locations. Most Life Time locations are located in exurban or suburban areas in medium to large-sized metropolitan areas, with some locations in central city or inner suburban areas. The oldest facility is in Eagan, Minnesota. In December 2019 they opened up a new facility inside of the Southdale Mall in Edina, Minnesota, replacing the former tenant J.C. Penney.In addition to its health clubs, the company has created or acquired, as of 2012, more than 200 annual races in the United States. These include the Life Time Tri Series, the Leadville Race Series, the Chequamegon Fat Tire Festival in Hayward, Wisconsin, the Unbound Gravel gravel bicycle race, and the Miami Marathon.In August 2014, Life Time, a publicly traded company, considered becoming a Real Estate Investment Trust in response to pressure from its largest shareholder, Marcato Capital Management. In March 2015, Life Time was acquired by private equity firms TPG Capital and Leonard Green & Partners in a leveraged buyout.
Mission
LifeTime helps medical office and hospitals in terms of digitalization. It is our goal to strengthen relationships between doctors and patients through modern digital tools and to facilitate interaction between the parties.
Vision
Despite rapid advances and massive growth in information technology in the last decades, data exchange between patients and doctors remains firmly stuck in the 20th century. We are facing this challenge head-on, pushing healthcare to the next level in Europe and globally. Modern work and social values are fundamental to our business model and provide our high-profile team with the motivation to create sustainable growth in a slow-moving industry and the freedom and flexibility to transform the multitude of obstacles inherent to our goal into opportunities. Our vision is an inviting and caring medical environment where access to and use of validated medical data is seamless. We strive for a world where doctors and patients get the most out of their interaction, unencumbered by trivial beaurocracy. A world where medicine is based on quantifiable and instantly available data. A world where patients benefit from the endless possibilities of data-driven medicine. By bringing together consumer technology, professional healthcare interaction, and scientific inquiry, we are building the foundation for the future of medical interactions.
Key Team
Mr. Eric J. Buss (Exec. VP & Chief Admin. Officer)
Mr. Parham Javaheri (Chief Property Devel. Officer & Exec. VP)
Mr. Robert Houghton (Exec. VP & CFO)
Mr. Erik Weaver (Principal Accounting Officer)
Mr. Erik A. Lindseth (Sr. VP, Gen. Counsel & Corp. Sec.)
Mr. R. J. Singh (Exec. VP & Chief Digital Officer)
Recognition and Awards
Life Time has received the “Employer of Choice” award from Glassdoor in 2020 and the “Best Franchise” award from Entrepreneur Magazine for 2020.
References
United States 