XpresSpa Group

A significant milestone occurred in 2016 when FORM Holdings Corp., a diversified investment firm, acquired XpresSpa. This led to a strategic rebranding in January 2018, where FORM Holdings adopted the name XpresSpa Group, Inc. and began trading on Nasdaq under the ticker XSPA, signaling a full commitment to the health and wellness sector. The business operates a direct-to-consumer model within airport concessions, generating revenue through fees for spa services and the retail sale of wellness products. These services are strategically located in major airports, leveraging partnerships with airport authorities to gain access to millions of travelers.

The COVID-19 pandemic marked a critical turning point. In 2020, with air travel drastically reduced, the company pivoted by launching the XpresCheck™ brand. This initiative transformed existing spa locations into COVID-19 screening and testing facilities for travelers and airport employees, demonstrating adaptability and creating a new revenue stream. This move also led to collaborations with the CDC for traveler-based genomic surveillance. Building on this healthcare expertise, the company launched Treat™ in late 2021, an integrated, upscale health and wellness center. Treat locations, accessible via a mobile app, offer a broader range of services, including on-site medical care, IV drip therapy, vaccinations, and virtual fitness sessions, alongside traditional spa offerings. To further bolster its capabilities, the company acquired HyperPointe, a digital healthcare and data analytics marketing agency, in early 2022. This acquisition was aimed at expanding the company's digital health and data analytics services.

In October 2022, the parent company rebranded to XWELL, Inc. (Nasdaq: XWEL) to reflect its expanded mission beyond spa services to encompass a wider spectrum of health and wellness solutions for people on the go. The core brands—XpresSpa, XpresCheck, Treat, and HyperPointe—continue to operate under their individual names within the XWELL ecosystem. The current leadership, helmed by CEO Scott Milford since January 2022, is focused on this diversified strategy, combining in-person airport services with digital health platforms.