Canada-based Therma Bright has acquired medical device technologies of Saringer Life Science Technologies in an all-cash transaction valued at $425,000.
The acquired products include BenePod chronic pain relief technology, ICEOtherm for minor aches and pain in the hands, elbows and feet, and Venowave, which increases blood circulation in the legs.
As part of the deal, THERMA hired key personnel and acquired all inventory, tooling, customer lists, online domains, technical files and quality management systems from Saringer.
Additionally, the company also obtained intellectual property, including patents and trademarks owned by Saringer and other related companies associated with it.
Therma Bright CEO Rob Fia said: “We are pleased to close the acquisition of Saringer’s therapeutic treatment products. We feel Sarginer has created some hidden gems that we will market aggressively on different e-commerce platforms and traditional retail channels.
“Therma has saved a tremendous amount of time and expense in acquiring Saringer’s proven products, which builds on our existing suite of novel medical device products.”
As part of the acquisition, Therma plans to carry out a full-scale rebranding of the acquired products, along with the launch of an e-commerce website and social media strategy.
The company is currently in discussions with New-York based SCG Creative to lead positioning, drive messaging, increase exposure and deliver brand value.
In 1997, Therma Bright received a Class II medical device status from the US Food and Drug Administration (FDA) for its thermal therapy technology.
The existing product line of the company address cold sore treatment and prevention, and the treatment of pain, itch and inflammation related to mosquito, bee, spider, mite and jellyfish bites or stings.