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Restore Hyper Wellness Secures $140 Million Investment

January 03, 2022 BeautyMatter
January 03, 2022
Restore Hyper Wellness

Restore Hyper Wellness, a leading provider of proactive wellness solutions, has landed a $140 million investment led by General Atlantic.

WHO: Launched in Austin, Texas, in 2015, Restore Hyper Wellness is an innovative new category of care—Hyper Wellness. Restore delivers expert guidance and an extensive array of cutting-edge wellness modalities integrated under one roof. These modalities include biomarker assessments, IV drip therapy, intramuscular (IM) shots, mild hyperbaric oxygen therapy, whole body and localized cryotherapy, infrared sauna, red light therapy, compression, assisted stretching, HydraFacial, and Cryoskin. Restore's mission is to make Hyper Wellness accessible and affordable so people can do more of what they love to do

WHY: Restore plans to leverage the investment to help accelerate its rapid growth. The company, which operates via a franchise model, has 115 locations in 34 states and plans to add over 100 more to be in 46 states by the end of next year.

IN THEIR OWN WORDS: "We believe everyone should have access to proactive health modalities that help them feel their best, so they can do more of what they love," said Jim Donnelly, co-founder and CEO of Restore. "We're defining a new healthcare experience that we describe as effective, social and transparent. Our prevention-first model (vs. the traditional sick care model) is still new to many consumers and communities. For this reason, it was important to find an investment partner that has experience helping build new categories. We are excited to partner with General Atlantic because of their strong track record of investing in category-creating brands."

“Jim and Steve are visionary founders who have created a new comprehensive model that seamlessly integrates proactive wellness and preventative medicine," said Shaw Joseph, Managing Director at General Atlantic. "We look forward to leveraging our experience supporting innovative, high-growth businesses as we partner with the Restore team to scale their services to populations of all kinds, from chronic pain sufferers to elite athletes.”

“The average American lifespan is 79 years, while the average American healthspan—the years we live in general good health and disease free—is only 63 years," said Steve Welch, Restore's co-founder. "That means that the last 16 years of the average American's life is increasingly debilitated, unable to do the things they love. Through Restore's Hyper Wellness model, customers can feel better every time they visit. Long-term, we hope to prove we can help extend our clients' healthspans, allowing them to continue to live life to the fullest while simultaneously reducing the healthcare costs of the system.”

“We believe that Restore is very well positioned to capture a meaningful share of the high-growth, fragmented and underserved wellness market," said Lexie Bartlett, Principal on General Atlantic's Consumer team. "As consumers take a more proactive approach to managing their health and wellness, the Restore team has developed an integrated, multi-modality offering to provide new treatment solutions that can meet their diverse needs.”

Jim Donnelly continued, "The democratization of wellness is long overdue. Better outcomes and options should not be reserved solely for the affluent. We take great pride in making Restore accessible to every walk of life. In return, our avid customers have become great brand ambassadors and are providing the gift of better wellness when they bring their friends and family to Restore."

DETAILS:

  • General Atlantic made a $140 million investment in Restore Hyper Wellness, which marks the firm's first foray into the wellness sector.
  • Bloomberg reported Restore is valued at more than $500 million.
  • According to Crunchbase, Restore has raised a total of $153 million to date.
  • In 2021, the company's systemwide sales have grown by 158% and delivered over 1.5 million services, which follows similar year-over-year growth from 2020. In 2022, Restore aims to open a new store every four days, on average.
  • In 2020, Restore sold 241 new franchise locations (289% year-over-year growth). Restore ended 2020 with 74 locations and will approach 150 locations open by the end of 2021.
  • Piper Sandler & Co. served as the exclusive advisor to Restore.
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