SOURCE: GlobalFit

June 17, 2005 11:05 ET

GlobalFit CEO 2005 Finalist in Ernst & Young Entrepreneur of the Year® Program

PHILADELPHIA, PA -- (MARKET WIRE) -- June 17, 2005 -- GlobalFit, the nation's leading provider of employee and group fitness benefits, announced today that President and CEO Michael Cassady was named Entrepreneur Of The Year Finalist in Business Services by professional services firm Ernst & Young LLP. The Entrepreneur of the Year Program recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. Cassady was selected from over 75 nominations in the Greater Philadelphia and Central Pennsylvania region by an independent panel of judges based on his leadership in such areas as innovation, financial performance, company growth and personal commitment to business and the community. The award was announced at a banquet on June 16, 2005, at the Philadelphia Marriott Hotel.

"I am honored to be a finalist in the Business Services category; however, I view the award not only has an honor to me, but also as a tribute to my brother and co-founder, John Cassady, my mentors and the hard working employees who have dedicated themselves to making GlobalFit a success," said Cassady. "There is no other company that provides the end-to-end national fitness solutions offered by GlobalFit. This is possible because of our dynamic group of employees as well as our client customers who have made the commitment to improve the health and fitness of their workforce."

The original business concept -- hatched by John Cassady -- was to offer Philadelphia-area companies discounted access to a selection of quality fitness clubs as a benefit to their employees. During the past 12 years, Michael Cassady built GlobalFit into a national leader. With his business acumen, his passion for fitness and his ability to hire and nurture talented employees, he has guided the enterprise from a two-man operation in a closet-sized office in Center City Philadelphia to a dynamic organization with over 35 employees and a rapidly growing client base of more than 1,200 of the nation's top employers, insurance carriers and organizations representing more than 50 million employees and members.

Under his leadership, GlobalFit was recently named to the 2005 Inner City 100, a list of the fastest growing companies in America's inner cities as determined by the Initiative for a Competitive Inner City (ICIC) and Inc magazine, and has been twice named to the Philadelphia 100, the fastest growing privately-held companies in the Greater Philadelphia Area as determined by the Philadelphia Business Journal and Wharton Small Business Development Center.

In addition to running GlobalFit, Cassady sits on the advisory board of Oceanus Partners, a consulting firm focusing on strategic plans for expanding businesses. He also holds a managing partner position with Lighthouse Capital Partners, LLC, a leading private investment firm, and sits on the advisory board for that fund's five portfolio companies. He is also an active member and supporter of the International Health, Racquet & Sportsclub Association, the HRC Federal Club and the Sapphire Fund.

GlobalFit is the nation's leading provider of employee and group fitness benefits. Founded in 1992 and headquartered in Philadelphia, GlobalFit offers a comprehensive range of health and fitness products and services including discount memberships to more than 1,500 fitness clubs nationwide. For more information on GlobalFit please visit www.globalfit.com.

Contact Information

  • For More Information Contact:
    Lisa White
    Director of Marketing
    215-320-4204