Cryo Holdings says it is planning to open new locations in Saudi Arabia and India to meet demand for cryotherapy services
Dubai-based Cryo Holdings, a leading operator in the fledgling global cryotherapy sector, is planning to open new locations in Saudi Arabia and India.
Benny Parihar, CEO, said the expansion of the company had been "nothing short of exceptional" over the past six years, adding that growth will continue apace.
It plans to expand its global distribution network by bringing on board technology partners in new geographies to service growing global demand.
New distribution partners in Taiwan, South Korea, Italy, Germany, UK, Slovenia, Czech Republic, Slovakia and Hong Kong were welcomed during the first quarter of 2019, Parihar said.
He added that three locations in Saudi Arabia and four in India, with investment of up to $7 million, are also due to open.
Whole-body cryotherapy is, essentially, ice baths taken to a new level, and has drawn considerable attention among athletes over the past few years. In the cryotherapy chambers, the ambient temperature is typically lowered to a numbing minus 110 Celsius or minus 166 Fahrenheit.
Parihar said: “The cryotherapy industry has historically seen a slowdown in the winter months over the past few years but this was not the case this year.
"We experienced our highest number of devices shipped in the history of our business in the last quarter, as well as having a sold-out manufacturing capacity for most of Q2. The trend in the industry is all about focusing on safety and the dated direct nitrogen injection units (cryosaunas) are losing market share rapidly.
"Many businesses are moving to indirect cooling technologies where the patients are not exposed to harmful gases which may cause asphyxiation and burns. With the popularity of the treatment still growing fast, businesses that are looking to scale their practices are choosing our technology in order to mitigate risk of lawsuits and sub-par customer experiences."
The company said it is looking to double production capacity to keep up with the demands of sales teams and distributors.
Cryotherapy, sometimes known as cold therapy, is the local or general use of low temperatures in medical therapy. Cryotherapy may be used to treat a variety of tissue issues and can be used to relieve muscle pain, sprains and swelling after soft tissue damage or surgery.