Health and spirituality icon Dr. Deepak Chopra is selling his wellbeing experiences businesses to the Healing Co., where he currently serves as chief scientific adviser.
(Bloomberg) — Health and spirituality icon Dr. Deepak Chopra is selling his wellbeing experiences businesses to the Healing Co., where he currently serves as chief scientific adviser.
The acquisition encompasses Chopra Global’s physical product line, its meditation and wellbeing app, and licensed experiences including the Chopra Health Retreat at CIVANA Wellness Resort & Spa and the Chopra Mind-Body Zone and Spa at the Lake Nona Performance Club, according to a statement reviewed by Bloomberg News.
Financial details of the transaction, which is being funded with cash and equity, weren’t disclosed. But the Healing Co. said the anticipated value will be $20 million over five years including cash and royalties. The company’s shares, which are traded over the counter, are also likely to increase in value, it said.
“The aim of the acquisition is to team up to create a more than $100 million business by tackling the $7 billion, 15% CAGR Ayurveda market,” Healing Co. co-founder and Chief Executive Officer Simon Belsham, said in an interview, referring to the fast annual growth rate for products based on traditional Hindu medicine. “With a deal structure grounded in shared incentives and scaled based on performance, that value creation will be realized by both parties.”
Chopra, who joined the Healing Co. when it launched last year, will keep in his role as chief scientific adviser, driving innovation and setting a scientific standard for all brands within the portfolio.
“I am slowly withdrawing from all active business engagement,” Chopra said in an interview. “I am only going to support companies that have a higher calling, that have good products, services and experiences and that actually do everything that I can back up scientifically.”
Chopra, who has authored more than 90 books, has more than 20 million followers on social media. The founder of the Chopra Foundation, he served as a health and spiritual adviser to celebrities such as Oprah Winfrey.
The Healing Co. aims to build a community of healing brands through the acquisition of companies in the wellness, supplement, and nutraceutical spaces, according to its website. Last October, the New York-based company bought nutrition brand Your Super in its first major purchase.
Belsham said the company is on track toward its goal of completing about 15 acquisitions over the next few years. “Having completed two now, we’ve got a great pipeline of opportunities ahead,” he said.
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