Peloton Jumps As Its Corporate Wellness Plan Onboards UnitedHealth
By Dhirendra Tripathi
Investing.com – Peloton (NASDAQ:PTON) stock rose nearly 6% Tuesday as UnitedHealthcare said its fully-insured members may sign up to get no-cost access to the exercise equipment maker's app for up to 12 months starting in September.
UnitedHealthcare (NYSE:UNH) care stock rose 1.3%.
Nearly 4 million UnitedHealthcare commercial members will have the option to access Peloton’s fitness classes via the Peloton app.
Members who are existing users of the Peloton app will get a four-month waiver toward an all-access membership at no additional expense, a note by Peloton said.
New and existing Peloton members who are eligible for the offer may take advantage of this new program and have the cost of their Peloton digital or all-access membership covered by UnitedHealthcare.
Launched last month, Peloton’s corporate wellness program brings the fitness equipment maker’s products to businesses and organizations operating in the U.S., the U.K., Canada, and Germany, with Australia coming later this year.
The company aims to enroll companies keen to provide employees access to mental and physical health resources.
Organizations can offer subsidized access to Peloton digital and all-access memberships as well as exclusive benefits on its connected fitness products.
Wayfair (NYSE:W), Samsung (KS:005930), SAP (NYSE:SAP), Accenture Interactive (NYSE:ACN) and U.K.’s Sky were among the first to subscribe to the offering.
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