Life Time Fitness, Inc. operates multi-use sports and athletic, professional fitness, family recreation and spa centers in a resort-like environment. As of February 28, 2012, the Company operated 102 centers under the LIFE TIME FITNESS and LIFE TIME ATHLETICSM brands primarily in suburban locations in 26 major markets in the United States. Its model centers target 8,500 to 11,500 memberships by offering, on average, 113,000 square feet of multi-use sports and athletic, professional fitness, family recreation, spa amenities and programs and services in a resort-like environment. Its centers are situated in areas and centrally located among the residential, business and shopping districts of the surrounding community. As of December 31, 2011, it had 676,054 memberships and 1,292,587 members. In January 2012, it acquired the Racquet Club of the South. Effective August 28, 2012, MGC Diagnostics Corporation sold the assets of its New Leaf business to the Company.