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M&A Deal Summary

Next Health Acquires Lindora

On September 19, 2025, Next Health acquired consumer services company Lindora from Xponential

Acquisition Highlights
  • This is Next Health’s 1st transaction in the Consumer Services sector.
  • This is Next Health’s 1st transaction in the United States.
  • This is Next Health’s 1st transaction in California.

M&A Deal Summary
Date 2025-09-19
Target Lindora
Sector Consumer Services
Buyer(s) Next Health
Sellers(s) Xponential
Deal Type Divestiture
Advisor(s) Houlihan Lokey (Financial)
McDermott Will & Emery (Legal)

Target

Lindora

Irvine, California, United States
Lindora is a provider of comprehensive, medically-based weight loss treatments and products. Lindora operates 35 stand-alone clinics across Southern California and seven in-store clinics in selected Rite Aid stores. Lindora was founded in 1971 and is based in Irvine, California.

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Buyer(S) 1

Buyer

Next Health

Los Angeles, California, United States
Category Company
Founded 2016
Sector Healthcare Services
DESCRIPTION

Next Health is a health optimization and longevity center specializing in IV Therapy, Cryotherapy, NAD Therapy, Peptides, Aesthetics, and More. Next Health was founded in 2016 and is based in Los Angeles, California.

DEAL STATS #
Overall 1 of 1
Sector: Consumer Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: California M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1

Seller(S) 1

SELLER

Xponential

Irvine, California, United States
Category Company
Founded 2017
Sector Consumer Services
Employees288
Revenue 320M USD (2024)
DESCRIPTION

Xponential is a curator of boutique fitness brands across multiple verticals. Through its mission to make boutique fitness accessible to everyone, the Company has built and curated a diversified platform of nine boutique fitness brands spanning across verticals including Pilates, indoor cycling, barre, stretching, rowing, dancing, boxing, running, and yoga. Xponential was founded in 2017 and is headquartered in Irvine, California.

DEAL STATS #
Overall 4 of 4
Sector: Consumer Services M&A 4 of 4
Type: Divestiture M&A Deals 4 of 4
State: California M&A 4 of 4
Country: United States M&A 4 of 4
Year: 2025 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-28 CycleBar

Irvine, California, United States

CycleBar is an indoor cycling brand that offers a variety of low-impact, high-intensity indoor cycling workouts, which are inclusive of all fitness levels. It offers an immersive, multi-sensory experience in state-of-the-art "CycleTheaters," led by specially trained instructors, enhanced with high-energy "CycleBeats" playlists and tracked using rider-specific "CycleStat" performance metrics. CycleBar was founded in 2004 and is based in Irvine, California.

Sell -
Mergr

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