TVTY - TVTY STOCK NEWS

Tivity Health (NASDAQ:TVTY) reported its third quarter 2020 results, highlighting a 16% revenue decline to $254.9 million, primarily due to a 40% drop in Healthcare segment revenues. Net loss reached $42.4 million, while adjusted EBITDA improved by 11.9 million to $68.7 million. Notably, the company plans to divest its Nutrition business for $575 million, aiming to enhance its balance sheet and focus on Healthcare. SilverSneakers eligibility increased by 350,000 for 2021. The company anticipates Healthcare revenue of $425-$432 million for the full year.

Tivity Health, Inc. (NASDAQ: TVTY) will present at the 29th Annual Credit Suisse Virtual Healthcare Conference from November 9-12, 2020. Key executives, including CEO Richard Ashworth, CFO Adam Holland, and COO Tommy Lewis, will participate in a fireside chat scheduled for November 10, 2020, at 2:45 p.m. ET. A live audio-only webcast and replay will be accessible on the company's website. Tivity Health offers solutions like SilverSneakers and Nutrisystem, focusing on enhancing health outcomes and addressing social determinants of health.

Tivity Health, Inc. (Nasdaq: TVTY) will release its third-quarter financial results for the period ending September 30, 2020, after market close on November 5, 2020. A conference call and live webcast will follow at 5:00 p.m. ET. Investors can join the call via telephone or online. Tivity Health is recognized for its health solutions, including SilverSneakers and Nutrisystem, and focuses on addressing social health determinants to improve overall health outcomes.

Kainos Capital has agreed to acquire Nutrisystem from Tivity Health (Nasdaq: TVTY) for $575 million. Nutrisystem is recognized for its effective, direct-to-consumer weight management solutions that have aided millions in safe weight loss for over 45 years. Kainos aims to rejuvenate Nutrisystem as an independent entity while leveraging their experience with similar brands. The acquisition is expected to close in Q4 2020, subject to customary conditions. Rabobank is providing financing and serving as financial advisor for this transaction.

Tivity Health (NASDAQ: TVTY) announced a definitive agreement to sell its Nutrition Business, including Nutrisystem® and South Beach Diet®, to Kainos Capital for $575 million in cash. This strategic divestiture aims to allow Tivity Health to concentrate on its core healthcare operations, improving long-term growth and shareholder value. Proceeds from the sale will be used to reduce debt, enhancing financial flexibility. The transaction is expected to finalize in Q4 2020, pending regulatory approvals. Tivity's focus remains on its Healthcare Business, supported by the growing Medicare Advantage trend.

Tivity Health (Nasdaq: TVTY) enhances its SilverSneakers program in 2021 by offering more virtual options for seniors, including over 200 On-Demand classes and live virtual workouts. Eligible seniors can access these services at no extra cost, with a focus on maintaining physical activity, especially during the COVID-19 pandemic. The Medicare Advantage Annual Election Period runs from October 15 to December 7, allowing seniors to select plans that include SilverSneakers. The program enjoys a high Net Promoter Score of 81, reflecting strong member satisfaction.

On September 29, 2020, Nutrisystem, a brand of Tivity Health, unveiled its new biodegradable cooler, designed to minimize environmental impact while ensuring product freshness. The cooler degrades up to 92% over four years, as per ASTM D5511 standards. This eco-friendly packaging aligns with Nutrisystem's commitment to sustainability, featuring recyclable materials and reduced print materials. Tommy Lewis, President of Nutrisystem, emphasized the importance of maintaining quality while supporting a sustainable lifestyle for their customers. Nutrisystem continues to prioritize health and environmental consciousness in its operations.

Tivity Health has launched its Nutrisystem Body Select program in Walmart stores and online. This weight loss program, tailored for individual body types, features a 5-day kit with meals and customizable macronutrients. Customers can purchase the kits or items a la carte. The program aims to help users lose up to seven pounds in two weeks and includes free access to the NuMi app for tracking. Tivity plans to expand the program to other retailers like Amazon and Target.com later in 2020.