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Thorne HealthTech, Inc. (NASDAQ: THRN) is a trailblazer in the health and wellness sector, dedicated to providing personalized healthcare solutions. By integrating dietary guidance and lifestyle recommendations with nutritional supplement interventions, Thorne is at the forefront of preventive health care.
Thorne offers at-home biomarker tests, allowing users to gain deep insights into their health from the comfort of their homes. These insights are powered by sophisticated analytical software, enabling personalized plans on diet, exercise, and supplement intake. Thorne's unique approach ensures users can confidently take action to optimize their health outcomes.
Notably, Thorne is the only supplement manufacturer collaborating with the Mayo Clinic for health and wellness research. Additionally, it partners with over 12 USA teams and is trusted by professional athletes and healthcare professionals alike, bolstering its reputation in the industry.
Recently, Thorne announced its second-quarter 2023 financial results, showcasing record net sales and a 33% growth in sales driven by robust demand for its premium wellness offerings. The company continues to expand its product portfolio and strengthen its brand awareness through new marketing campaigns.
In a major development, Thorne entered into a definitive agreement with L Catterton, a leading global consumer-focused investment firm, to acquire all outstanding shares of Thorne's common stock. This transaction, valued at approximately $680 million, underscores Thorne's market significance and commitment to driving long-term growth.
Thorne's mission is to empower individuals to take control of their health through personalized wellness solutions. With a dedicated team and cutting-edge technology, Thorne is well-positioned to remain a leader in the health and wellness industry.
Thorne HealthTech (NASDAQ: THRN) has acquired Nutrativa LLC, which specializes in 2D high-speed printing technology for dissolvable supplement discs. The deal, finalized on February 28, 2022, enhances Thorne's product offerings, starting with a children’s multi-vitamin disc. The product line promotes sustainability by using eco-friendly materials, reducing carbon emissions, and conserving water. CEO Paul Jacobson emphasized the acquisition's potential for market expansion and improved consumer health experiences.
Thorne HealthTech, Inc. (NASDAQ: THRN) will host a conference call on March 15, 2022, at 8 a.m. ET to discuss its Q4 and full-year 2021 financial results. Investors can access the call via the company’s website or by phone. An audio replay will be available for seven days after the call. Thorne HealthTech focuses on personalized health solutions through its vertically integrated brands, Thorne and Onegevity, leveraging science for improved product efficacy and personalized services.
On February 24, 2022, Thorne HealthTech (NASDAQ: THRN) announced a multi-year extension of its global marketing partnership with UFC, continuing as the Official Sports Performance Nutrition Partner. This partnership emphasizes Thorne's NSF-Certified products, crucial for athlete preparation and recovery. Since 2019, there have been no failed drug tests linked to Thorne products. The deal includes Thorne branding integration in UFC broadcasts, events, and social media, alongside an annual Brand Ambassador fund for UFC athletes.
Tetra Bio-Pharma has entered a licensing agreement with Thorne Health Tech for the commercialization of a patented prebiotic dietary supplement in the U.S. market. This partnership includes royalties on sales and milestone payments. The U.S. prebiotics market is projected to surpass USD 9.5 billion by 2027, growing at a CAGR of 9.6% from 2021. Tetra's CEO expressed enthusiasm about collaborating with Thorne, known for its evidence-based supplements, to bring their product to consumers.
Thorne HealthTech (NASDAQ:THRN) has partnered with Mitsui & Co., Ltd. to establish a joint venture named Thorne HealthTech Asia Pte. Ltd. ("Thorne Asia"). This venture aims to enhance awareness and accessibility of Thorne's health solutions in Asia. Leveraging Mitsui's market expertise, Thorne Asia will focus on delivering diagnostics, analytics, and nutritional supplements. With increasing demand in the region for personalized health products, the partnership highlights significant growth potential, especially for addressing chronic health issues prevalent in Asia.
Thorne HealthTech (NASDAQ: THRN) released the 2021 Wellth Report, revealing significant shifts in health priorities due to COVID-19. Findings indicate that 67% of respondents feel ongoing negative impacts on their health, with 89% attempting to improve their well-being in the past year. Challenges include poor sleep and mental health, particularly among millennials and women. Despite the demand for personalized health solutions, many struggle with managing stress and sleep quality. The report emphasizes the need for data-driven approaches to support consumer health in a post-pandemic world.
Thorne HealthTech (NASDAQ: THRN) has announced a multi-year partnership with Human Powered Health, previously known as Rally Cycling, to serve as their Official Personalized Health Solutions Partner. This collaboration will provide elite athletes with Thorne's health testing and nutritional supplements to enhance performance. Thorne, recognized for its NSF Certified for Sport products, aims to empower athletes through a personalized approach to health. This partnership aligns with Thorne’s mission to enhance health spans through scientific wellness solutions.
Thorne HealthTech (NASDAQ: THRN) will present at the Evercore ISI 4th Annual HealthCONx Conference on December 2, 2021, at 10:30 a.m. Eastern Time. CEO Paul Jacobsen will lead the presentation, which will be available via live webcast on Thorne's investor relations website, with a replay accessible for 90 days. Thorne HealthTech specializes in personalized health solutions, using data and testing to enhance product efficacy for consumers and health professionals.
Thorne HealthTech (NASDAQ: THRN) reported strong third quarter and nine-month results for 2021, highlighting a record net sales of $48.0 million for Q3 and $135.4 million year-to-date. Gross margins improved to 53.2% in Q3, up from 49.9% in 2020. The company's net income reached $1.0 million for Q3, significantly down from $4.2 million in 2020. Despite a 79.7% increase in selling expenses, Thorne remains focused on enhancing brand awareness and expanding its subscription model. Cash and equivalents stood at $76.7 million.
Thorne HealthTech (NASDAQ: THRN) will announce its third quarter 2021 financial results on November 10, 2021, prior to market opening. The management team will conduct a conference call at 8:30 a.m. ET to discuss these results. Interested parties can listen via telephone or live webcast, with replay options available. Thorne HealthTech focuses on personalized health solutions, leveraging data and testing to enhance product effectiveness and consumer health outcomes.
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