The Bachelor star Sam Wood sells his fitness app for $71 million

It’s been an enormous week for former The Bachelor star and health advocate Sam Wood, who final week welcomed the delivery of his third youngster and offered his health app ‘28 by Sam Wood’ in a $71 million (US$50m) cope with Melbourne tech firm myDNA.

Wood, 41, had his third daughter, Harper, with spouse Snezana Markoski, on May 4.

He based 28 by Sam Wood with enterprise companion, David Jackson in 2016 beneath the mum or dad firm Australian Life Tech (ALT). More than 400,000 have used the Wood health program.

The ALT enterprise has expanded its providing into company wellness, white label platforms, product partnerships and retreats. It has delivered a three-year income and a compound annual development price of greater than 30%.

Under the acquisition deal, ALT will assist myDNA speed up its Software as a Service (SaaS) providing and direct-to-consumer development.

myDNA makes use of genomic knowledge to drive precision medication and personalised wellness. It’s chaired by Rich Lister Dennis Bastas founder and CEO of Arrotex Pharmaceuticals, who holds a 20% stake within the genetics enterprise.

Wood mentioned the merger “is the following huge chapter and can enable us to supercharge development, add unimaginable new tech options and personalisation” for subscribers to twenty-eight by Sam Wood.

“I’m so happy with what we’ve achieved to this point and much more enthusiastic about what the long run with myDNA holds,” he mentioned.

myDNA CEO Dr Lior Rauchberger mentioned each corporations will retain their very own branding. He will probably be CEO of the mum or dad firm, MYDNA INC.

“Bringing collectively the know-how platform, modern product choices and the immense expertise of those two corporations will speed up the worldwide commercialisation of Australian developed IP,” he mentioned.

David Jackson, who can also be CEO of ALT, mentioned Dr Rauchberger and Bastas had constructed an “unimaginable international health-tech enterprise”.

 “Australian Life Tech is keen about utilizing good know-how and knowledge to unlock well being outcomes and this enhances myDNA’s management in genomic well being and insights,” he mentioned.