Nuzuna and Visionbody To Combine Fast Growing Fitness Businesses
(MENAFN – EIN Presswire) NEWPORT BEACH, CALIFORNIA, UNITED STATES, January 27, 2021 /EINPresswire.com / — Nuzuna Fitness CEO Charles Laverty today announced the company and Visionbody Technologies AG have signed a letter of intent to merge. The deal is subject to shareholder approval.
The combined company will accelerate the development of Nuzuna’s fast-growing network of fitness and physical therapy locations. Nuzuna also has expanded into direct-to-consumer sales with online sales and a soon to be launched Amazon store which will help the Visionbody brand to grow rapidly in the United States.
‘This is an incredibly strategic move for both companies.’ Says Laverty. ‘Nuzuna is revolutionizing instructor led and home fitness and physical therapy practice. So, merging with Visionbody helps us to accelerate technology and product innovation and accelerate growth.’
In 2019 Nuzuna launched a line of wellness products including skin creams and lotions and has recently begun offering workout suits for home exercises. The company operates several US locations and has many more in various stages of development. In 2020 Nuzuna added physical therapy practices to all its fitness locations.
According to Fortune Business Insights, the Fitness Tracking market is expected to reach $92B USD by 2027. Rising health disorders will brighten those market prospects. Henri Schmidt, CEO of Visionbody AG says ‘With our manufacturing and R & D capabilities we are positioned to be a significant player in the fitness tracking market.’
The combined company will retain the Nuzuna name, but the fitness and physical therapy locations will adopt the Visionbody brand. Manufacturing will remain in Shenzhen, China and R & D will remain in Germany.