Hyperice announced its acquisition of mental wellness company Core on Tuesday, creating a new division that looks at opportunities beyond physical wellness.
Terms of the deal were not disclosed, but sources told FOS that prior to the acquisition Core was in the midst of a funding round at a post-money valuation of $40 million.
The acquisition comes at a time when mental health is at the forefront of wellness.
Core is designed to help people improve their focus and mental strength. The company’s products, which retail starting at $179 with a premium option available for $249, include a mediation trainer and access to meditations.
Through the acquisition of Core, Hyperice enters a global meditation apps market that is expected to reach $4.2 billion by 2027.
It also marks the third acquisition for Hyperice in less than two years.
- Last year, it acquired NormaTec, an innovator of cutting-edge pneumatic compression systems.
- It also acquired RecoverX, a San Diego-based company that specializes in intelligent thermal tech.
Following a $48 million funding round in October that included Patrick Mahomes, Russell Westbrook, and Lindsey Vonn, Hyperice is valued at $700 million.
Hyperice has signed a bevy of partnership deals within the last year that include agreements with the NBA, UFC, WNBA, and the English Premier League.
Editor’s Note: Hyperice is an FOS partner.