
Joseph Bexell
Investment Manager
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- Full Name
- Josef Bexell
- Title
- CEO
- Firm
- Bond Health Group
- Firm Type
- Nordic health and wellness group; Novax portfolio company
- Investment Stage
- Growth-stage small and mid-sized companies while at Novax
- Target Company Profile
- Preventive-health, wellness, dental-care, corporate-health, and health-services companies with potential to scale across the Nordics
- Sector Focus
- Preventive health, wellbeing, corporate health, dental care, fitness and wellness services
- Geographic Focus
- Sweden, Norway, Denmark, with longer-term Nordic/international expansion ambitions
- Location
- Stockholm, Sweden
Background
Josef Bexell is CEO of Bond Health Group, a Nordic preventive-health and wellness group backed by Novax, the investment company of Axel Johnson. Bond Health Group brings together STC, Bruce Studios, Aspire Health Hub, and Palla around physical activity, preventive health, and workplace wellbeing.
Before taking the Bond Health Group CEO role in September 2025, Bexell worked at Novax from 2014, focusing on investments and company building in health. Novax says he was responsible for developing its investments in the health sector and served as Chairman of the Board at STC and Bruce Studios, as well as Investment Manager for OneLab and Aqua Dental.
His earlier career included private equity and corporate finance roles: a speaker bio from Health & Fitness Association Europe states that he was previously an Investment Manager at Axcel and worked in Corporate Finance at UBS in London. His LinkedIn profile lists Stockholm School of Economics as his education.
Investment Thesis & Focus
- Focused on preventive health: Novax’s health sector thesis is to enable “a more active, healthy lifestyle for the many” through accessible, modern, preventive health services.
- Looks for businesses that improve health and quality of life at scale, especially in wellbeing, corporate health, and dental care.
- Has emphasized physical activity as a key lever for both mental and physical health. In connection with Bond Health Group’s launch, he said physical activity is “a key component for better physical and mental health” and that the group aims to lower barriers to training.
- Has backed platform-style businesses that aggregate fragmented health or wellness supply: Bruce Studios aggregates gyms, studios, and wellness experiences; Aspire Health Hub targets HR leaders with measurable employee fitness and wellbeing tools.
- Favors long-term company building rather than passive investing. Novax describes itself as an active, long-term partner for small and mid-sized growth companies, providing expertise, networks, and support.
Notable Investments
- STC: Swedish gym chain; Novax entered as owner in 2018, and STC later grew to more than 250 clubs by 2025 and 270+ clubs by 2026. Bexell served as Chairman of the Board.
- Bruce Studios: Nordic multi-gym and studio membership app; Novax first invested in 2019 and became majority owner in January 2024. Bexell served as Chairman of the Board.
- OneLab: Preventive corporate-health platform offering modern health screenings for employers; Novax invested approximately SEK 40 million in 2021, with Bexell named as Novax’s Health & Wellness sector manager.
- Aqua Dental: Swedish dental-care chain; Bexell was Investment Manager for the company at Novax. Aqua Dental acquired MyDentist in 2024, adding 12 clinics and more than 200 employees.
- Dentech: Dental technology platform aiming to digitize dentistry through services for booking, payments, and marketing; Novax backed the company in 2021, with Bexell commenting on the investment.
- Muntra: Cloud-based dental record system for clinics; listed by Novax as part of its Preventive Health portfolio, and Bexell has represented Novax as a board member.
- Bond Health Group: Nordic wellness group launched by Novax in 2025, combining STC, Bruce Studios, Aspire Health Hub, and later Palla; Bexell moved from chairman/investor into the CEO role in September 2025.
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