Supplier News Breaks Archives
TheraPearl acquired by Performance Health
June 17th, 2014
AKRON, Ohio – Performance Health, a manufacturer and marketer of branded rehabilitation and wellness products, has acquired hot and cold therapy product maker TheraPearl LLC.
Financial terms of the acquisition deal weren't disclosed. Performance Health — whose roster of brands includes TheraBand, Biofreeze, Perform, Cramer, Bon Vital and Hygenic — said late Monday that the addition of Columbia, Md.-based TheraPearl will boost its emerging retail business.
Performance Health's rehabilitation and wellness products are sold in a variety of U.S. clinical markets, leading national retailers and in more than 60 countries via a multi-national network of distribution partners. Its products includes a line of topical analgesics and a range of rehabilitation and wellness products. The company also formulates and manufactures a variety of highly engineered products mainly for dental and specialty health care applications.
"ThearPearl brings proven strength and additional scale to our emerging retail business," commented Marshall Dahneke, president and chief executive officer of Performance Health. "The alignment for us is both natural and exciting, as Performance Health is well-positioned to introduce and promote TheraPearl's unique portfolio more broadly, while TheraPearl's emphasis on resolving pain and promoting wellness is entirely aligned with our other key brands. Combining their strengths and momentum with the rest of our business will lead to better and more comprehensive solutions for all of the customers we serve."
Plans call for TheraPearl to continue to operate from its Columbia headquarters. Employing proprietary Pearl Technology, TheraPearl's hot/cold therapy products can be chilled or heated and conform to the body while providing the doctor-recommended 20 minutes of hot/cold therapy. The products are available at most major retailers in the United States and Canada, including Walmart, Rite Aid, Kroger, Dick's Sporting Goods and, most recently, Target. And this past March, the company launched internationally, making its products available at European pharmacy chain Boots.
TheraPearl, which was launched in 2008, recently ranked 41st on the Forbes list of most promising companies and came in at No. 209 on the 2013 Inc. 500|5000 list of the fastest-growing private companies in America, with 2,017% growth.
"TheraPearl is excited to join Performance Health and its portfolio of brands that share the common goal of offering innovative wellness products," stated Daniel Baumwald, president of TheraPearl. “In just six years, TheraPearl has experienced substantial growth by developing a successful product pipeline that appeals to both retailers and consumers. As part of Performance Health, we hope to continue that growth by gaining greater access to channels that reach the healthcare practitioner community."