Selvas Healthcare, an affiliate of Selvas AI, is making a strategic investment to deepen its exclusive supply partnership with Australian body-composition analysis company EVOLT and to drive global market expansion.
According to the company, this investment is a strategic measure to proactively secure a stable manufacturing and supply system in line with EVOLT’s expanding global demand and to pursue mid- to long-term sales growth based on the exclusive supply structure.
Selvas Healthcare’s flagship body composition analyzer product is AccuNic BC380. The company explained that it achieved 98 percent measurement accuracy in correlation tests with dual-energy X-ray absorptiometry (DEXA) equipment conducted by a U.S. clinical trial institution.
Based on its body composition analysis technology, Selvas Healthcare develops and supplies the EVOLT 360, an OEM product for EVOLT. About 6,500 EVOLT 360 units are installed and operating in 51 countries.
It has been introduced to over 2,800 locations, representing about 41 percent of the stores operated by Anytime Fitness, the world’s largest fitness chain. It is also utilized by major global fitness chains, including World Gym, Snap Fitness, Goodlife Health Clubs, Fitness First, BodyFit Training (BFT), and Virgin Active.
EVOLT is expanding its supply of body composition analysis devices while building a recurring revenue structure through its subscription-based business model. According to the company, subscription revenue is projected to grow 37.1 percent in 2024 and 22.7 percent in 2025, continuing its three-year growth trend. The platform currently has about 1.4 million active users, averages 15,000 scans per day, and has surpassed 11.7 million cumulative scans.
Selvas Healthcare plans to enhance the scalability of its body composition analyzer business by integrating the artificial intelligence technology and cloud systems of its parent company, Selvas AI.
“Strengthening our exclusive supply partnership with EVOLT is a decision to respond to increasing demand in the global fitness and healthcare market,” Selvas Healthcare CEO Yoo Byung-tak said. “We plan to continue global sales growth based on a stable manufacturing and supply system, while simultaneously expanding our business scope step by step through integration with artificial intelligence technology.”
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