Spain’s competition watchdog has approved Wellhub’s acquisition of rival Urban Sports Club (USC), but only after securing commitments designed to prevent the deal from stifling competition in the fast-growing corporate fitness market.
The National Commission on Markets and Competition (CNMC) announced on Monday that it had authorized the transaction (C/1564/25), which combines Spain’s largest fitness and wellness aggregator with one of its main challengers. Aggregators such as Wellhub and USC act as intermediaries between gyms and companies, offering employees access to a wide network of fitness and wellness services as part of workplace benefits packages.
The CNMC warned that the merger could reinforce Wellhub’s already dominant position in a highly concentrated market where only three firms compete. It highlighted concerns that the enlarged company could use exclusivity clauses to lock in gyms and corporate clients, blocking rivals from gaining scale in a market where network effects create barriers to entry.
To address these concerns, Wellhub has committed to a package of remedies that will apply for four years. These include:
- A ban on exclusivity clauses and financial incentives tied to exclusivity in contracts with gyms and corporate clients.
- The repeal of exclusivity obligations in existing contracts, except in cases where investments have already been made.
- A pledge not to penalize partners or clients for working with other aggregators.
- An obligation to inform users of the commitments.
According to the regulator, these measures are sufficient to reduce the risk of higher prices for companies or reduced benefits for employees. The CNMC also noted that competitors have recently gained ground amid sector growth and that gym chains exert some pressure from outside the aggregator market.
The commitments, it said, should ensure “that formal or de facto exclusive relationships with suppliers and corporate customers do not hinder the growth of current and potential competitors.”
The deal marks a major consolidation in Spain’s booming corporate wellness sector, where demand for flexible fitness benefits has surged in the wake of the pandemic and amid a war for talent.
Source: https://www.cnmc.es/prensa/compra-urbansportsclub-wellhub-20250901
