FALLBROOK, CA -- Med-Fit Systems has reached an agreement to purchase the commercial company assets of Nautilus Inc., according to an announcement today from Dean Sbragia, president and CEO of Med-Fit Systems, Fallbrook, CA. The purchase price was not announced.
“We are extremely pleased to have reached agreements with Nautilus Inc. to acquire the Nautilus commercial products manufacturing and intellectual property,” Sbragia says. “We have plans to aggressively expand upon this iconic brand, enhance the facilities in Virginia and provide our customers with exemplary educational and customer service support.”
Sbragia founded Med-Fit Systems Inc., a 23-year-old physical therapy and senior care products provider.
“Our experience with Nautilus products in the rehab, senior and athletic training markets has convinced us of the superior design, safety and function of the machines,” Sbragia says. “We have over 1,000 installations in the rehab and geriatric communities and have achieved documented positive results with optimum user safety.”
The Nautilus ONE dial technology has become the standard among the new exerciser, geriatric and rehab user, Sbragia says. He adds that the ability to change weights in as little as one pound increments from the exercise position is a benefit that can be translated into increased memberships for facilities looking to cater to growing demographics, such as seniors, new exercisers and women.
Med-Fit Systems has established an interactive Web-based showroom, allowing potential customers to “try” the equipment at their convenience without leaving their facilities.
“This technology has been a real boon to our rehabilitation business,” Sbragia says. “Not only can we demonstrate machine function, use and precautions, but we have a platform for focus group and customer integration, which allows us to respond quickly to customer demands and needs.”
The purchase also includes the Nautilus manufacturing plant in Independence, VA.
The plant is in Grayson County, and the county board offered Med-Fit a low-interest loan in the amount of $1.9 million through the Virginia Small Business Financing Authority for the purchase of the main manufacturing campus. It secured $250,000 in Tobacco Region Opportunity Fund grants from the Virginia Tobacco Indemnification Commission and provided various forms of technical and professional support, according to Med-Fit.
Med-Fit Systems will host a meet and greet on March 11-12 in San Diego to unveil the new Nautilus commercial product plans and discuss the future of the brand.