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.