DME maker Drive Medical has entered into an agreement to acquire the entire product line of the consumer brand HurryCane from the Marketing Architects portfolio of companies.
HurryCane is a well-known consumer brand of canes, and a major seller in the United states. The acquisition should close on or before Aug. 25.
Introduced to consumers in 2011, HurryCane is a foldable cane that is designed to maximize mobility and balance on all types of terrains. HurryCane products include the Freedom Edition and the HurryCane Go.
Drive reports it intends to leverage this well-known brand and market the HurryCane products to its global network of providers, distributors and retailers. A statement from the company said strong consumer demand for HurryCane products should give its provider additional opportunities to create revenue.
“We believe that along with that brand recognition comes a huge market for HurryCane products, and with Drive’s extensive manufacturing and distribution capabilities, these products will soon be sold all over the world, as will the many new HurryCane products soon to be introduced,” said Harvey Diamond, chief executive officer of Drive, who described HurryCane as “a terrific brand with a breakthrough product.”
“Over the past three years, we’ve been able to see so many lives in the U.S. positively impacted by the HurryCane,” said Chuck Hengel, founder of the HurryCane. “Now, we’re excited for Drive Medical to bring this life-changing device to people on a global scale.”
Terms of the transaction were not disclosed.