Key Highlights

  • XWELL Inc. Agrees to sell XpresSpa Holdings and XpresTest units for $13 million.
  • The buyer is Express Wellness Group, an affiliate of Face Haus.
  • The transaction requires XWELL stockholder approval and other standard closing conditions.

XWELL Inc. Has entered into a definitive agreement to sell its XpresSpa Holdings and XpresTest units to Express Wellness Group, an affiliate of Face Haus, for $13 million. This move is part of the company’s broader effort to optimize its business structure, reduce operational costs, and enhance its ability to invest in key areas.

Deal Terms

Under the agreement, Express Wellness Group will acquire the XpresSpa and XpresTest units for $13 million. The transaction remains subject to approval by XWELL’s stockholders, along with other customary closing conditions. The deal is expected to close later in 2026.

Notably, the sale does not include XWELL’s health and wellness operations located outside of airports, which will continue under the company’s ownership.

Strategic Rationale

The decision to divest these units reflects XWELL’s commitment to sharpening its business focus. By reallocating resources, the company aims to strengthen its financial position and explore opportunities in its remaining segments. The sale is expected to provide additional capital while allowing XWELL to prioritize its long-term objectives.

What's Next

Once the transaction is finalized, XWELL will maintain its health and wellness operations outside of airports. The company will continue to evaluate its portfolio and pursue strategies that align with its evolving business priorities. Bruce Bernstein, Chairman of the Board of XWELL, will guide the company through this transition as it works to position itself for future success.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.