Athletes and fans try the Normatec recovery system prior to the IRONMAN St. George Utah 70.3 North American Pro Championship on May 03, 2019 in St George, Utah.
Gregory Shamus | Getty Images
Performance technology company Hyperice announced Thursday it has acquired NormaTec, the creator of a popular recovery system used by professional athletes.
Terms of the deal were not immediately made available, but Hyperice CEO Jim Huether told CNBC with the acquisition, he expects the company’s gross revenue to “more than double within 18 months.” Hyperice said it grossed in excess of $100 million in 2019.
“Through Hyperice’s existing manufacturing competencies and economies of scale, we expect the gross margin on the NormaTec line to increase significantly,” Huether told CNBC via email. “Through this acquisition, we also expect the NormaTec line to grow in international markets within 18 months.”
In a statement announcing the deal, NormaTec’s CEO, Gilad Jacobs,