Cottage Grove-based Johnson Health Tech Co. purchased majority ownership in a Japanese company specializing in massage chairs.
Johnson Health Tech now owns a 60% stake in Fujiiryoki Medical Instruments Manufacturing Co., the owner of the Fujiiryoki brand massage chairs. The share was purchased for 6.24 billion Japanese yen, about $57.72 million, this month.
With the acquisition, Johnson Health Tech will consolidate with Fujiiryoki to expand that company’s global reach.
“Fujiiryoki is known for its sophisticated product development process and outstanding brand reputation, but it has little distribution outside of Asia,” Johnson Health Tech CEO Jason Lo said.
Johnson Health Tech, a global manufacturer and distributor of fitness equipment, will use the acquisition to expand its wellness products, said Johnson Wellness Division CEO Alex Wu. Massage chairs are a $5.1 billion business with the largest market in Asian countries, he said.
“Our goal is to be the world’s largest provider of total health solutions, and we see a lot of overlap between fitness and wellness, particularly massage chairs,” Wu said. “We moved our wellness division to Japan in 2016 because it’s widely known to have the most advanced massage technology, and we wanted to be close to that as we immersed ourselves in the industry and developed our product lines.”
Johnson Health Tech is not hiring specifically for the Fujiiryoki brand in Cottage Grove following the acquisition, senior director of global marketing Patty Parrott said, but the company does plan on adding 26 incremental positions this year as part of Johnson Health Tech’s general growth.
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