HoMedics aims to bring the medical and spa worlds into your home. It makes hot/cold compression wraps, footbaths, dental appliances, sensory relaxation systems, magnetic therapy products, electronic massage systems, water purification systems, and other personal care items. The company serves the therapeutic bedding market with a line of DreamShield pillows, toppers, mattresses, and protective bedding. Through strategic agreements HoMedics makes products for Sharper Image and Stanley Black & Decker. It distributes its products to major department stores, discount and specialty stores, and drugstores in the US and in more than 60 countries. HoMedics was founded in 1987 to make back and body massagers.
While the company maintains its expertise in home spa and therapy products, HoMedics has been expanding into new niches for revenue growth. HoMedics rings up sales as a manufacturer for other consumer products companies. For Stanley Black & Decker, it makes the iShred paper shredder. The company also boasts a $540 million licensing deal with Sharper Image that extends through 2013 to make products under the Sharper Image brand name. The move has involved creating a company named SI Products to focus on the less-expensive models. HoMedics views the partnership as a way to enter new product categories and complement its existing business streams. Under the agreement, Best Buy stores sell about two dozen home-audio products under the Sharper Image brand.
During the past decade, HoMedics had been developing and investing in its Taylor Precision Products business, which it acquired in 2002. Taylor, which specializes in making precision thermometers and scales, bought Springfield Precision Instruments in 2010 to add decorative outdoor thermometers and rain gauges, as well as energy-saving products and kitchen timers. HoMedics opted to divest Taylor's operations in mid-2012, however, selling it to middle-market private equity firm Centre Partners. At the time HoMedics cited that it was shifting its focus back to products in the consumer health and wellness and electronics lifestyle markets.
HoMedics has developed a global reach for its products. The company's products are distributed throughout the Americas, the Asia-Pacific region, Europe, Africa, and the Middle East. – less