Tivity Health Inc. closed its $1.3 billion acquisition of Nutrisystem Inc., a Fort Washington, Pa.-based weight management company.

Under the deal, shareholders of Nutrisystem received a combination of $38.75 in cash and 0.2141 Tivity Health share for each Nutrisystem share owned.

Tivity Health financed the acquisition with existing cash on hand and a new senior secured credit facility led by Credit Suisse Group AG. The facility consists of a $350 million five-year term loan A and an $830 million seven-year term loan B.

The acquisition will expand Tivity Health's offering of fitness, nutrition and social engagement solutions, the company noted.

Franklin, Tenn.-based Tivity provides fitness and health improvement programs in the U.S.