Modular Thermal Technologies Acquires Life Wear Technologies, Inc.
June 30, 2015
North Kingstown, RI - Modular Thermal Technologies LLC (MTT),a leading manufacturer in Hot/Cold Therapy of CryoMAX® 8-Hour Reusable Cold Packs, has completed the acquisition of Life Wear Technologies, Inc. (LWT), a leading global supplier of both branded and private label Sports Medicine & Orthopedic products since 1974. The combined firms will operate as Life Wear Technologies and will offer retailers a single source for branded and private label Hot/Cold Therapy, Health Supports and various therapeutic products.
Joseph Giaquinto, former President & CEO of LWT stated, “Life Wear has always focused on the technical understanding of the therapeutic properties of both support and compression. That understanding provides a perfect marriage for the #1 product in Cold Therapy in our market and MTT’s approach of aligning with the ongoing consolidation in retail will resonate with our mutual customer base.”
Brad Waugh, CEO of MTT stated, “Combining the two companies will provide our customers superior logistics, customer service, product development and manufacturing capabilities through various complimentary areas of expertise. This partnership will also provide additional management and capital resources for the continued successful growth both companies have enjoyed to date!”
The new company, Life Wear Technologies, will be a leading global supplier of both branded and private label sports medicine and therapeutic products. Life Wear will also continue to manufacture and distribute its proprietary product line CryoMAX®, a patented cold pack that provides long lasting cold therapy for a variety of injuries including pains, sprains, post-surgical discomfort, and burns.