Thorne Healthtech Launches Throne Ventures to Focus on Innovation & Wellness

The two distinct divisions - Thorne, will concentrate on expanding its existing personalised supplement and testing business. It’s another part, Thorne Ventures, a newly established unit focuses on advancing scientific wellness through advanced products and services.

Thorne HealthTech, a US-based personalised health and wellness company, has unveiled Throne Ventures to bring dedicated focus on science-backed wellness and innovation.

Following the launch of Throne Ventures, Thorne, will concentrate on expanding its existing personalised supplement and testing business; while Thorne Ventures, will be dedicated to advancing scientific wellness through advanced products and services.

Thorne Ventures, spearheaded by current CEO Paul Jacobson, will integrate technologies from Thorne-owned Drawbridge Health and beyond, aiming to empower individuals to take a proactive and actionable approach to lifelong health improvement.

Jacobson expressed his commitment to staying at the forefront of the preventative health market by delivering personalised scientific wellness solutions based on data-driven and science-backed principles.

The Thorne unit, on the other hand, is led by newly appointed CEO Colin Watts, an industry veteran with 30 years of healthcare sector experience. He seeks to take the business ahead by developing nutritional products using clinical science, biometric testing, and multi-omics data.

Watts further emphasised the need for enhancing Thorne's R&D efforts, reinforcing the company's commitment to science and technology, and expanding its portfolio of personalised offerings.

Thorne HealthTech, a wellness giant with over five million customers and connections to more than 47,000 healthcare professionals, multiple professional athletes, over 100 sports teams, and various US national sports teams, operates a manufacturing facility in Summerville, SC.

Additionally, the company collaborated with Mayo Clinic on health and wellness research and content. The strategic changes reflect Thorne's dedication to staying ahead in the dynamic market of personalised health and wellness, aligning with consumer preferences for proactive health measures and scientific innovation.

In August 2023, Thorne HealthTech, finalised a definitive agreement with L Catterton. The global consumer-focused investment firm initiated a tender offer, acquiring all outstanding shares of Thorne at $10.20 per share in cash.

The transaction, amounting to approximately $680 million, delivered a substantial 94% premium to the unaffected closing share price on July 20, 2023, and an impressive 113% premium to the 30-day volume weighted average price as of the unaffected date.

The agreement received unanimous approval from Thorne's independent Special Committee and Board of Directors, with a strong recommendation for all stockholders to tender their shares in the offer.