Hyperice, Irvine, California, has purchased Core, a mental wellness company, Hyperice announced on July 27. The purchase price was not disclosed.
With the purchase, Hyperice created a Mind Technology Division that will be led by Sarah McDevitt, Core founder and CEO. She will lead strategy and mind technology innovation. Brian Bolze, co-founder of Core, will join Hyperice as director of software engineering, mind technologies.
The acquisition highlights Hyperice’s commitment to mental wellness as a pillar to overall health, performance, recovery and self-care, the company said. This marks the third acquisition for Hyperice in less than two years. The others included Normatec and RecoverX.
After listening to both consumers and the Hyperice roster of elite athletes and experts talk about their own mental wellness and the role it plays in their performance, training and overall success, Hyperice executives decided the moment to expand into mental wellness was now.
The global mindfulness meditation apps market size is expected to reach $4,206.1 million by 2027, according to ResearchandMarkets.com. The rates of people experiencing various mental health conditions have significantly increased over the past two years among nearly all age groups and populations, especially during the isolation and stress of the global pandemic.
“For a decade, Hyperice has focused on helping people move better through a suite of performance technology that helps everyone be at their best,” said Jim Huether, CEO of Hyperice, which offers recovery technology through percussion, vibration, dynamic air compression and thermal technology. “We’ve heard from both our elite and everyday athletes that mental wellness is critical to performance, so it was a natural evolution into the mental wellness category. Joining forces with Core aligns with our innovative spirit while investing in the future of wellness and includes a holistic and self-care approach.”
Core is designed to help people find calm, improve focus and inner strength. Unlike other meditation apps, Core is both an app and a handheld meditation device designed to track heart rate and stress levels. Powered by the Core app, the Core Meditation Trainer uses biometrics to encourage breath control and focus for those navigating meditation techniques. Users enhance their meditation practice from home or the office and track progress within the app. Core Premium subscribers also receive access to a library of instructor-led meditation sessions.
Core is currently available in the United States and will begin to roll out globally in 2022.