What’s happening: The company formerly known as Nautilus filed for Chapter 11 bankruptcy and agreed to be acquired by Johnson Health Tech for $37.5M.
Equipment brands BowFlex and Schwinn, plus digital fitness app JRNY, will join JHT’s equipment portfolio that includes Matrix and Horizon.
For context: BowFlex has been focused on home exercise for 40 years — but over the past decade, it went all-in.
The company sold its StairMaster brand in 2009 and all commercial Nautilus assets to Core Health & Fitness in 2014.
In 2020, it offloaded B2B equipment brand Octane to TRUE Fitness.
In 2021, it acquired Swiss startup VAY, adding motion tracking to its app and smart dumbbells.
But, the brand’s stock plummeted post-COVID, forcing it to consider a sale.
Reconnecting
Connected fitness companies are being forced to think beyond the home gym.
After buying MIRROR for $500M, lululemon shuttered its smart screen business and tapped Peloton for app content.
Screen maker FORME acquired vertical climbing machine CLMBR, inking a commercial distribution deal with Woodway.
CITYROW sold to its manufacturing partner WaterRower after a Hydrow deal fell through.
Elsewhere… Echelon entered B2B, Tonal is partnering with sports orgs, and Peloton is still searching for a path forward.
Looking ahead: As the fallout from flawed pandemic-era decision-making continues, there’s more fitness consolidation to come. Recalibrating to meet exercisers on their own terms, equipment makers that deliver sustainable, channel-specific growth will find success.
We break down how fitness, wellness, and healthcare are converging — and what it means for business, culture, and capital.
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