SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Modern Acupuncture™, the first franchise of its kind to make the natural health and beauty benefits of acupuncture available in an accessible and affordable way, announces today its investment from Strand Equity, a leading growth equity firm investing in the next generation of iconic consumer brands and services. Modern Acupuncture currently operates 49 locations across 16 states and plans for 11 additional locations to open across the country by the end of 2019. This marks the first minority investment for the rapidly growing, Arizona-based franchise.
Founded in 2016 by several key leaders who built and grew The Joint Corp., franchisor of The Joint Chiropractic, to the largest and fastest growing chiropractic franchise in the world, Modern Acupuncture was created to lead a movement in propelling acupuncture into the 21st Century. With its motto of “Let’s Tingle,” the company’s goal is to revolutionize health, beauty and wellness with a natural and evidence-based solution to the stressors of the modern lifestyle. Modern Acupuncture offers affordable memberships that encourage patients to include acupuncture in their regular health, beauty and wellness routines. According to the World Health Organization, acupuncture is an all-natural, holistic treatment clinically proven to alleviate chronic pain, relieve stress, and treat over 30 diseases and conditions. The company is on pace to provide over 300,000 patient treatments by the end of 2019 and plans to double in size in 2020.
“We launched the first Modern Acupuncture prototype clinic in Scottsdale, Arizona, in 2016 and immediately witnessed strong validation from the consumer that acupuncture services were in high demand. Shortly after the launch, we experienced high levels of interest from potential franchisees that shared our same enthusiasm and vision on how impactful acupuncture could be if delivered properly to the masses. Our franchise offering became available in early 2017 and we quickly expanded nationwide,” said Matt Hale, co-founder and CEO of Modern Acupuncture. “With our micro-thin needles, which are smaller than a human hair, we can access distinct points on the body to help restore proper blood flow, balance, alleviate pain, reduce stress, and promote relaxation. We feel very fortunate to have found like-minded partners in the team at Strand Equity. We are confident that our alignment with this new partnership will accelerate our already rapid growth and mission to make people’s lives better through the benefits of this 2,500-year-old medicine.”
Strand Equity partners with emerging brands to scale their businesses through its marketing and operational expertise, as well as its extensive network of industry relationships. Current and realized investments include Dos Toros, Bai, One Homecare Solutions, Vita Coco, Chopt, Oatly, Youth To The People, Sweaty Betty and Real Good Foods, among others. Through Strand Equity’s network and resources, this investment will further advance Modern Acupuncture’s mission of making lives better through holistic health and wellness.
In addition to Strand Equity, Modern Acupuncture has assembled a well-rounded group of value-added shareholders, including acclaimed acupuncturist Bob Doane, World Health Organization delegate Marilyn Allen, branding expert Scott Goodson, health and wellness entrepreneur Charles Anderson MD, entrepreneur Cole Zucker and actress Cameron Diaz.
“The growth that Modern Acupuncture has experienced in such a short time is truly remarkable,” said Strand Equity Co-Founder and Managing Partner, Seth Rodsky. “By providing convenient and accessible treatments in a spa-like environment, the brand is pioneering a movement towards natural wellness unlike anything in the market. We are so thrilled to partner with them and are excited to help the Company continue making their all-natural health and beauty treatments accessible and affordable to customers across the United States.”
About Modern Acupuncture™
Based in Scottsdale, Ariz., and founded in 2016, Modern Acupuncture™ is revitalizing the ancient practice of acupuncture for the modern individual by making all-natural health and beauty benefits available to the public in Zen-inspired clinics across the country. There are currently 49 clinics in the U.S. across 16 states, with plans to open 11 more by the end of 2019.
Modern Acupuncture™ offers developer and franchisee opportunities to qualifying entrepreneurs. ACU Development, LLC is the franchisor of Modern Acupuncture™ franchise locations and an operator in some states. In California, Massachusetts, Nevada, New Jersey, New York, Tennessee, and Washington, ACU Development, LLC and its franchisees provide management services to affiliated professional acupuncture practices.
About Strand Equity:
Strand Equity is a Los Angeles-based growth equity firm investing in the next generation of iconic consumer brands and services. Strand Equity is led by a team of experienced and successful investors and entrepreneurs. With a permanent capital base, Strand Equity maintains a flexible approach to structure and partnership, enabling dynamic entrepreneurs and management teams to accelerate growth and build durable businesses.