RICHMAR ANNOUNCES JOINT VENTURE WITH PHYSIOMED ELEKTROMEDIZIN AG
RICHMAR
4120 SOUTH CREEK ROAD
CHATTANOOGA, TN 37406
CONTACT: DEBBIE JOLES, VICE-PRESIDENT OF COMMERCIALIZATION AND PORTFOLIO MANAGEMENT
August 28, 2016
Richmar, a leader in the manufacture of physical medicine products and consumables in the US, has entered into a joint venture with Physiomed® Elektromedizin AG, a global physical therapy equipment producer in Germany. The two companies will integrate technologies over the next several years to bring new, innovative, clinically-tested therapies to the US market.
Richmar is set to introduce a new technology to the physical therapy, rehab and sports market in the US featuring Physiomed technology inside. Physiomed will integrate a line of consumables manufactured by Richmar into their product portfolio in the German market and beyond.
Chad Morgan, President of Richmar, says of this new relationship “Establishing a partnership with such a reputable, long-standing physiotherapy manufacturer in Europe allows Richmar to fast-track new innovations and share manufacturing competencies for both the US market and strategic markets outside the US”.
Thomas Schuhmann, COO of Physiomed, welcomes this new partnership: “We are very excited to align ourselves with Richmar in this joint venture. We expect promising synergies, but beyond that we found in Richmar a matching partner with regard to innovation, and our high standards of quality and competence.”
Richmar will kick off this project with the launch of a deep oscillation therapy system in the United States. The Hivamat®200 and Hivamat 200 Evident will be sold exclusively through the Richmar distribution network.
Richmar is an integral partner to the clinicians who treat musculoskeletal and soft tissue disorders since 1968. Always known as rugged and reliable, today’s Richmar manufactures a diverse line of quality medical devices and accessories as well as pharmaceutical products. Richmar is located in Chattanooga, Tennessee and led by an executive team with years of experience in the industry. Richmar is well poised for continued growth and market expansion in the US and expanding its reach globally in the near future.