Wellbeing company Raiys has taken another leap forward for its growth strategy with the acquisition of content streaming service Ashia.
Ashia was developed by Glasgow-based Frog Systems and provides individuals and businesses with user-friendly, on-demand access to 16 channels of expert and lived experience content.
Uncertainty about ongoing research and development tax credit reviews had frustrated Frog Systems’ attempts at attracting new funding streams to provide working capital and accelerate its growth, despite interest from potential investors.
Craig Morrison and Brian Milne, managing directors of business advisory firm Quantuma, were appointed joint administrators of Frog Systems at the end of July and completed the sale of the Ashia business and assets to Raiys.
The deal ensures the future of the Ashia business and safeguards the jobs of all nine employees, who have transferred to Raiys. It takes the number of Raiys employees to 75.
Frog Systems’ former chief executive Phil Worms said: “Like Raiys, we are passionate about the value of proactive and preventative wellbeing services and the role that digital technology plays in helping employers to create healthy workplaces.
“It has been a challenging time for the company, but I believe that bringing Raiys and Ashia together is a fantastic outcome and we are excited for what we can achieve together as a genuine one-stop shop for wellbeing solutions.”
Quantuma’s Morrison said: “The sale is a great outcome for the business. I’m delighted that the jobs of all employees have been saved and the business has been protected by being sold to a third-party buyer with the ability to take it forward.”
Clients using Ashia – the name means ‘life and hope’ in Arabic – include Sussex Cricket, The Lowry theatre and arts venue in Salford Quays, Greater Manchester, Scotland-based hire firm GAP Group and construction and development company GRAHAM.
The service comprises 8,000 videos and podcasts, alongside a UK-wide support directory and thousands of curated digital resources.
The deal enables Cheshire-based Raiys, which currently provides online and in-person support to over 750,000 employees in companies and organisations across the UK, to further enhance its wellbeing content, technology platform and management intelligence capabilities.
Raiys supports clients with health and wellbeing services such as a dedicated app, wellbeing audits, behavioural change programmes, health screening, workshops, neurodiversity assessments, mental health training, one-to-one coaching and 24/7 access to specialist counselling.
Onsite support is provided by specialist clinicians including doctors, nurses, health and fitness experts, counsellors and nutritionists.
The company’s digital and face-to-face services are designed to deliver improved health and performance and increase employee engagement, and to build resilience and emotional strength to help people face stress and life challenges.
The Ashia service is Raiys’ second acquisition following its swoop in early 2023 for The Healthy Employee, which works with employers to improve the physical and mental health and wellbeing of their people through targeted programmes, including workshops, webinars and roadshows.
James Murphy, founder and chief executive of Warrington-based Raiys, said: “Organisations are increasingly starting to understand their role and responsibilities in supporting employee wellbeing in the workplace. Our mission is to help employers and businesses of any size to create healthy, purposeful workplace cultures across all sectors and job roles.
“The addition of Ashia gives us an even more powerful offering and enables us to grow the digital side of our proactive wellbeing services as we focus on our goal to provide employers and organisations with all the tools they need to improve the health and wellbeing of their people.
“The combined data capabilities of the Ashia and Raiys services will also give existing and new clients access to formidable real-time management data to assist their managers and HR teams with informed wellbeing decision-making. I’m delighted to be able to bring Ashia into our business.”