New Canaan, Connecticut – June 2014 – Performance Health, a premiere global company in the health, wellness, and self-care markets, announces the acquisition of THERA°PEARL®, a leading innovator in the hot and cold therapy market. THERA°PEARL, along with Performance Health’s premium brands and innovative products TheraBand™, Biofreeze®, Perform®, Cramer®, Bon Vital’®, further strengthens the brand, efficacy and product portfolio for Performance Health in the highly attractive clinical, retail, and international markets.
“THERA°PEARL brings proven strength and additional scale to our emerging retail business,” stated Marshall Dahneke, president and chief executive officer, Performance Health. “The alignment for us is both natural and exciting as Performance Health is well positioned to introduce and promote THERA°PEARL’s unique portfolio more broadly while THERA°PEARL’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.”
THERA°PEARL recently ranked 41st on Forbes magazine’s list of most promising companies and landed at 209 on the 2013 Inc. 500|5000 list of the fastest growing private companies in America with 2,017 percent growth. THERA°PEARL will continue to operate from their headquarters in Maryland.
“THERA°PEARL is excited to join Performance Health and its portfolio of brands that share the common goal of offering innovative wellness products,” said Daniel Baumwald, president, THERA°PEARL. “In just six years, THERA°PEARL 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.”
Founded in 2008, THERA°PEARL® creates innovative hot and cold therapy products using its proprietary Pearl Technology®. Based on the frozen peas concept, THERA°PEARL products can be chilled or heated and conform to the body while providing the doctor-recommended 20 minutes of hot/cold therapy. THERA°PEARL packs are a doctor-designed, drug-free way to reduce pain. In addition to being cost-effective, reusable and easy to clean, they are hypoallergenic, non-toxic and BPA free. The products are available at most major retailers throughout the U.S. and Canada, including Wal-Mart, Rite Aid, Kroger, Dick’s Sporting Goods, and most recently, Target. This past March, the company launched internationally, making its products available on the shelves of the market leading European pharmacy chain, Boots. In addition to its retail growth, the company is gaining traction with hands-on healthcare practitioners, such as massage therapists and spa professionals. www.TheraPearl.com.
About Performance Health
Headquartered in Akron, Ohio, Performance Health is a leading designer, manufacturer and marketer of branded rehabilitation and wellness products sold into a variety of U.S. clinical markets, leading national retailers and in over sixty countries through a multi-national network of distribution partners. The Company’s product offering includes an innovative line of market-leading topical analgesics and a broad range of rehabilitation and wellness products. In addition, the Company formulates and manufactures a variety of highly engineered products primarily for dental and specialty healthcare applications. Performance Health markets its diverse product offering under the well-known and highly recognized TheraBand™, Biofreeze®, Perform®, Cramer®, Bon Vital’® and Hygenic® brand names. www.TheraBand.com; www.Biofreeze.com; www.PerformPainRelief.com; www.CramerSportsMed.com; www.BonVital.com; www.Hygenic.com; www.TheraBandAcademy.com
About Gridiron Capital:
Gridiron Capital, LLC, headquartered in New Canaan, Connecticut, is a private equity firm focused on creating value by acquiring and building middle-market manufacturing, service and specialty consumer companies in the United States and Canada. Gridiron’s principals work closely with management teams to develop strategies for portfolio companies, as well as providing resources to execute business plans and build industry-leading companies. Additional information is available on the firm’s website at www.gridironcapital.com.