Collaboration incentivizes U.S. customers to spend funds from HSA (Health Savings Accounts) and FSA (Flexible Spending Accounts) programs to purchase FORME's personal training and smart home gyms with pre-tax dollars
Partnership enhances FORME’s B2C positioning as a growth driver to complement the B2B initiative of acquiring CLMBR that was announced on October 11
AUSTIN, TX, Oct. 13, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Interactive Strength Inc. d/b/a FORME (Nasdaq: TRNR), maker of premium smart home gyms and provider of virtual personal training services, announces a strategic partnership with Truemed (True Medicine), a leading healthcare payment provider. This pioneering collaboration enables U.S. customers to spend funds from their HSA (Health Savings Account) and FSA (Flexible Spending Account) programs to access FORME's cutting-edge wellness solutions, resulting in average after-tax savings between 30% and 40%.
With a shared commitment to help customers invest in their health and wellness, FORME and Truemed have joined forces to provide aligned incentives and access to expert trainers and premium equipment. Users can now conveniently purchase FORME's innovative smart gym, the Lift, or 1:1 personal training from FORME’s website at checkout, and existing FORME members could potentially benefit from reimbursement for purchases.
Trent Ward, Co-founder and CEO of FORME, commented: “This collaboration represents an important milestone for FORME, as the partnership materially improves the affordability of our offerings, by helping customers benefit from after-tax savings through HSA and FSA programs. Exercise is medicine and I am inspired by the Truemed team’s tireless advocacy of supporting appropriate incentives to help our society achieve and maintain their health. We have doubled down on keeping people healthy through our pending acquisition of CLMBR, and having partners like Truemed makes a big difference.”
How Existing FORME Members Can Benefit:
Members who already have a FORME membership can benefit from the Truemed partnership and get reimbursed for future payments for your eligible membership purchases. By using their HSA and FSA funds for FORME membership or personal training, current members are investing in their well-being while enjoying the convenience of a single, integrated payment solution.
How New FORME Members Can Participate:
Customers purchasing FORME fitness equipment, such as the Lift, should add desired products to the cart, select Truemed as your payment option at checkout, enter your HSA or FSA debit card details, and complete a brief health survey to determine your eligibility. Once your eligibility is approved, you are all set. Should you prefer to checkout using a credit card and reimburse later, follow the on-screen instructions.
To learn more about using HSA and FSA funds for FORME subscriptions or membership reimbursement, please visit FORME Support.
To learn more about the acquisition of CLIMBR, click HERE
To watch a video of FORME Lift in use, click HERE
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Truemed (True Medicine) is a leading healthcare payment provider that facilitates the utilization of HSA and FSA funds for qualified health expenses. With a focus on simplifying the payment process, Truemed's innovative platform ensures a convenient and user-friendly experience for customers. By empowering individuals to make the most of their tax-free HSA and FSA accounts, Truemed enables significant savings on leading health and wellness products and services. The company's mission is to revolutionize the healthcare payment landscape, making it easier for individuals to access and afford the products and services that contribute to their overall well-being. Learn more at www.truemed.com.
FORME is a digital fitness platform that combines premium smart home gyms with live virtual personal training and coaching to deliver an immersive experience and better outcomes for both consumers and trainers. FORME delivers an immersive and dynamic at-home fitness experience through two connected hardware products: 1. The FORME Studio (fitness mirror) and 2. The FORME Studio Lift (fitness mirror and cable-based digital resistance). The Studios uniquely transform to host a variety of workouts and activities, returning to an elegant, full-length mirror when not in use. In addition to the company’s connected fitness hardware products, FORME offers expert personal training and health coaching in different formats and price points through Video On-Demand, Custom Training, and Live 1:1 virtual personal training. FORME is listed on NASDAQ (symbol: TRNR).
Forward Looking Statements:
This press release contains forward-looking statements. Forward-looking statements include all statements that are not historical facts. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements. These forward-looking statements include any statements regarding the commencement of trading of FORME’s common stock on The Nasdaq Global Market and the closing of the offering. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described under “Risk Factors” in FORME’s registration statement relating to the offering. Except as required by law, FORME has no obligation to update any of these forward-looking statements to conform these statements to actual results or revised expectations.