Restore Hyper Wellness secures $ 140 million investment

Restore Hyper Wellness, a leading provider of proactive wellness solutions, has landed a $ 140 million investment led by General Atlantic.

WHO: Launched in Austin, Texas, in 2015, Restore Hyper Wellness is an innovative new category of care: Hyper Wellness. Restore provides expert advice and a wide range of cutting-edge wellness modalities integrated under one roof. These modalities include biomarker assessments, intravenous infusion, intramuscular (IM) injections, mild hyperbaric oxygen therapy, whole body and localized cryotherapy, infrared sauna, red light therapy, compression, assisted stretching, HydraFacial and Cryoskin. Restore’s mission is to make Hyper Wellness accessible and affordable so people can do more of what they love to do.

WHY: Roll back plans to leverage the investment to help accelerate its rapid growth. The company, which operates through a franchise model, has 115 locations in 34 states and plans to add more than 100 more in 46 states by the end of next year.

IN THEIR OWN WORDS: “We believe everyone should have access to proactive health modalities that help them feel better, so they can do more of what they love,” said Jim Donnelly, co-founder and CEO of Restore. “We define a new healthcare experience that we describe as efficient, social and transparent. Our prevention-oriented model (compared to the traditional health care model) is still new to many consumers and communities. For this reason, it was important to find an investment partner who has experience in creating new categories. We are excited to partner with General Atlantic because of their solid track record of investing in category-building brands. “

“Jim and Steve are visionary founders who created a comprehensive new model that seamlessly integrates proactive wellness and preventative medicine,” said Shaw Joseph, CEO of General Atlantic. “We look forward to leveraging our experience supporting innovative, high growth companies as we partner with the Restore team to tailor their services to populations of all kinds, from people with chronic pain to athletes. elite.

“The average American life expectancy is 79 years, while the average American life expectancy – the years we live in good health and without disease in general – is only 63 years,” said Steve Welch. , co-founder of Restore. “It means that the last 16 years of the average American’s life is increasingly weakened, unable to do the things they love. Thanks to Restore’s Hyper Wellness model, customers can feel better with every visit. In the long run, we hope to prove that we can help extend the lifespan of our customers, allowing them to continue to live fully while simultaneously reducing system health costs.

“We believe Restore is uniquely positioned to capture a significant share of the high-growth, fragmented and underserved wellness market,” said Lexie Bartlett, director of the Consumer team at General Atlantic. “As consumers take a more proactive approach to managing their health and wellness, the Restore team has developed an integrated multimodal offering to deliver new treatment solutions that can meet their diverse needs.

Jim Donnelly continued, “The democratization of wellness is long overdue. Better outcomes and options shouldn’t be just for the rich. We are very proud to make Restore accessible to all walks of life. In return, our passionate customers have become great brand ambassadors and offer the gift of better well-being when they bring their friends and family to Restore. “

DETAILS:

  • General Atlantic has invested $ 140 million in Restore Hyper Wellness, which marks the company’s first foray into the wellness industry.
  • Bloomberg reported that Restore is valued at over $ 500 million.
  • According to Crunchbase, Restore has raised a total of $ 153 million to date.
  • In 2021, the company’s system-wide sales grew 158% and provided over 1.5 million services, following similar year-over-year growth from 2020. By 2022, Restore aims to open a new store every four days, on average.
  • In 2020, Restore sold 241 new franchise locations (289% year-over-year growth). The restoration finished 2020 with 74 locations and will approach 150 open locations by the end of 2021.
  • Piper Sandler & Co. has been the exclusive advisor to Restore.
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