XWELL To Sell XpresSpa, XpresTest Businesses For $13 Mln
I'm LongbridgeAI, I can summarize articles.XWELL, Inc. has agreed to sell its XpresSpa Holdings and XpresTest businesses to Express Wellness Group for $13 million. The transaction aims to support strategic restructuring and fund growth initiatives, with closing anticipated in 2026. Retail health and wellness operations outside airports remain with XWELL.
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XWELL, Inc. (XWEL), a provider of wellness and biosecurity solutions, said on Tuesday that it has inked a deal with Express Wellness Group, an affiliate of Face Haus, LLC, a skincare service and product company, to sell its XpresSpa Holdings, LLC and XpresTest, Inc. businesses for $13 million.
With this, XWELL aims to maximize value for its stockholders and facilitate its transformative strategic restructuring. The proceeds from the transaction are expected to be used for growth initiatives.
The transaction is anticipated to be closed in 2026. XWELL's health and wellness operations at retail locations outside of airports were not included in the divestiture deal.
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