Fergus Kee puts Fitbug Holdings though its paces

Thursday, May 05 2011 by
6
Fergus Kee puts Fitbug Holdings though its paces

When Fergus Kee took on the role of executive chairman at AIM quoted Fitbug (LON:FITB) in April this year, it was a decision that he didn’t take lightly. For the ex-Bupa executive, who invested £200,000 of his own money in the business on his arrival, the prospects for Fitbug are significant. With a technology offering that blends online health and wellness coaching with a device that allows users to track their achievements, Fitbug is aiming to tackle the burgeoning market for preventative healthcare, particularly in the US. It is an area that Kee knows well, and his knowledge and contacts in large corporations across the sector could be about to open the door to a fighting fit future for Fitbug.

Fitbug was the last in a portfolio of health and fitness oriented businesses run by AIM group ADDleisure plc, which was restructured and renamed in late 2009. Fitbug became the sole focus and with £1.2 million bagged from a share placing at the time of transition and a further £0.6 million raised last October, the company has looked to finish developing its platform and work harder on striking up partnerships with its business-to-business strategy. It already works with companies including PruHealth in the UK and its sister company The Vitality Group in the US, Nectar, the UK loyalty programme, and various primary care trusts (PCTs) as well as distribution partners Yorbody in the Netherlands and Belgium and SCIFIT in the US. In the six months to June 30, 2010, the company saw revenues increase by 91% to £0.8m while pre-tax losses came in at £0.3m against £1.0m a year earlier. The company is now hoping that a pipeline of deals will pull the company into profit during 2011.

Fergus, you have had a great deal of success in the recent past at Bupa. What was it that attracted you to Fitbug?

A number of things. Obviously a big chunk of my career has been the last 18 years at Bupa where, for the last 12 years, I’ve been on the Executive Committee and at the table for most of their big calls. I have also run a number of Bupa’s big businesses, the UK Health Insurance business with 3.5 million members, the UK Wellness business and a business in the US which Bupa acquired a number of years ago called Health…

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1 Comment on this Article show/hide all

J Kerley 6th May '11 1 of 1
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I saw another article in Shares magazine on Mr Kee's appointment. They had a 'Buy' recommendation for this stock. Interesting company and a seemingly great appointment. I can certainly see the appeal of the US for a company in this space.

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