Can The Healing Company, Fresh Off $7M in New Funding, Become a Wellness Unicorn?
After recently acquiring Chopra Global, The Healing Company is on the hunt for more wellness, supplement and nutraceutical businesses to buy
The Healing Company has secured up to $7 million in new funding from strategic partners, bringing its total raised and committed equity funding to up to $17 million, in addition to a $150 million credit facility designed to support future acquisitions.
According to Goldman Small Cap Research, a stock market research firm, The Healing Company is well-positioned to become a health and wellness unicorn and has two potential deals slated to close during the second half of the year.
The fresh funding comes from the Burman family of New Delhi and the Goetz Family Office of Munich and will support The Healing Company’s endeavors in building a healing brand community by acquiring wellness, supplement and nutraceutical companies.
Last month, the company also announced it had uplisted from the OTC (over-the-counter) Pink Market to the OTCQB Venture Market and would continue trading under the symbol HLCO.
By trading on the OTCQB Venture Market, the company says its current and future investors will have greater access to data, home country disclosure, ease of trading and transparency. As it looks ahead, The Healing Company confirms its push for a NASDAQ listing within the next 12 months.
“The announcement of the uplisting, alongside the funding from long-term strategic investors experienced in the wellness, supplement and nutraceutical sectors, is further validation of our business model and will support an acceleration of our accretive buy-and-build strategy,” said Simon Belsham, CEO and co-founder of The Healing Company. “Moreover, we are confident the uplist will allow us to reach a broader investor base, and is an important stepping stone towards our goal of listing on a national exchange in the near-term.”
Belsham also noted The Healing Company’s record financial performance during the fiscal third quarter, achieving sequential revenue of $3.2 million, a 34% increase over Q2, which he says is the result of the company’s successful track record of acquiring complementary businesses.
One of The Healing Company’s major acquisitions, Deepak Chopra’s Chopra Global, was completed earlier this year and included the Chopra product line, its meditation and well-being app, the Chopra Health Retreat at Civana Wellness Resort & Spa, and the Chopra Mind-Body Zone and Spa at the Lake Nona Performance Club.
“Importantly, we are already seeing strong performance from the Chopra businesses,” Belsham said. “Looking ahead, we have a robust pipeline of additional acquisition targets that we believe would be both synergistic and accretive.”
The Healing Company has found a hit with a limited release of its Chopra Signature Body Oils, which sold out within weeks of its debut. The oils, which were developed with Ayurvedic principles, will be reintroduced this October. The wellness company says the success of the oils demonstrated the explosive interest in Ayurveda, which Market Research Future says is a $7 billion market expanding at a 15% compound annual growth rate.
Last fall, The Healing Company acquired Yoursuper.com, a plant-based superfoods business, which has a retail presence in Target, CVS, Sprouts and The Vitamin Shoppe.
