Selvas Healthcare, a subsidiary of Selvas AI, announced on the 27th that it has decided to make a strategic investment to strengthen its exclusive supply partnership with Australian body composition analysis company EVOLT and to respond to global market expansion.
The company explained that this investment is a measure to preemptively secure a stable manufacturing and supply system in line with the expansion of global demand for Evolt, and to promote mid- to long-term sales growth based on an exclusive supply structure.
Selvas Healthcare's flagship body composition analyzer, the AccuNiQ BC380, achieved 98% accuracy in a comparative test with DEXA equipment at a U.S. clinical trial institution. Based on its body composition analysis technology, the company develops and supplies EVOLT's original equipment manufacturing (OEM) product, the EVOLT 360, which currently has approximately 6,500 units installed in 51 countries. It has been installed in approximately 2,800 branches of the global fitness chain Anytime Fitness, representing approximately 41% of its stores, and is also used by major chains such as World Gym, Snap Fitness, Good Life Health Club, Fitness First, Bodyfit Training, and Virgin Active.
Evolt is building a recurring revenue structure through a subscription-based business model, while expanding its supply of body composition analysis devices. According to the company, subscription revenue is projected to grow 37.1% in 2024 and 22.7% in 2025, marking three consecutive years of growth. The platform boasts approximately 1.4 million active users, an average of 15,000 daily scans, and over 11.7 million cumulative scans.
Selvas Healthcare plans to expand its body composition analyzer business by integrating its parent company, Selvas AI, with its AI technology and cloud system. Yoo Byung-tak, CEO of Selvas Healthcare, stated, "Strengthening our exclusive supply partnership with Evolt is a decision made to respond to the demands of the global fitness and healthcare markets. Building on our stable manufacturing and supply system, we plan to continue growing our global sales while gradually expanding our business scope through the integration of AI technology."
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