The company offers at-home health tests for evaluating various aspects such as sleep, fertility, gut health, stress, and others, and for the full year 2022, registered net sales of $228.7m
Thorne HealthTech engages CG Sawaya Partners to help in its sale process. (Credit: Louis Reed on Unsplash)
Thorne HealthTech, a US-based science-driven wellness company that provides solutions for a customised approach to health and wellness, is reportedly exploring the divestiture of its business.
The company has engaged CG Sawaya Partners, an investment bank, in this regard as it draws interest from other firms and private equity firms, reported Reuters, citing undisclosed sources having knowledge about the matter.
The sources told the publication that there is no assurance of a deal taking place, while a company spokesperson declined to comment on the report.
Thorne HealthTech offers at-home health tests for evaluating various aspects such as sleep, fertility, gut health, stress, and others. Additionally, it provides supplements to support these areas, thereby creating a personalised wellness plan for each individual.
The company offers its products directly to customers instead of selling them through shops or online retailers.
For the full year 2022, Thorne HealthTech had registered net sales of $228.7m, which is an increase of 24.1% year-over-year. The company’s gross profit for the year witnessed a 19.2% growth to $114.9m, compared to the prior year.
According to the news agency, Japanese entities Kirin and Mitsui & Co, are among the main shareholders of the company with stakes of 29% each.
Last month, the wellness company secured a CE (Conformite Europeenne) Mark certification for its NanoDrop device. The company announced that the product had met the European Union’s requirements for relevant performance, safety, and product.
NanoDrop is said to introduce virtually painless blood collection for decentralised clinical trials and at-home diagnostic testing.
In October last year, Thorne HealthTech forged a collaboration with GenTegra to develop a whole blood DNA collection cartridge and a comprehensive stabilisation and extraction kit.