Siena Lending Group LLC (Siena) announced the closing of a three-year $9.0 million revolving credit facility for the subsidiaries of Interactive Health, Inc., Human Touch LLC and Relax the Back Corporation. The asset-based credit facility was used to refinance existing debt and provide additional working capital to support business growth.
Interactive Health, through its wholly-owned subsidiaries Human Touch and Relax the Back, offers products to consumers that help them alleviate pain and reduce stress. Now in its 40th year, Human Touch proudly serves as the country's leading provider and innovator of high-performance massage chairs, PerfectChair recliners and other wellness solutions. Committed to creating the most immersive and personalized independent wellness experiences, Human Touch introduces patented massage systems that replicate the touch and techniques used by leading massage professionals. Each product is strategically engineered and designed to address the pains and stresses caused by today's hectic lifestyle using the latest technologies and intelligent ergonomics. Products are available at fine furniture stores, back-care specialty stores, and mass-market retailers across the U.S., through international retailers and distributors in more than 25 countries, and online.
Relax the Back, with 95 franchised and company-owned stores, is the nation’s largest specialty retailer of products that relieve and prevent back and neck pain. Relax the Back offers more than 300 items ranging from pillows and support cushions to elaborate massage chairs and ergonomic office products. Along with selling Human Touch recliners and support chairs, Relax the Back stores sell other top product lines and brands, including Tempur-Pedic, Alex Orthopedic and Bauerfeind USA.
Mark Orlando, Director and Western Region Manager of Siena, said, “We are excited to have completed this financing for Interactive Health to help them reach new levels of success. Siena is proud to partner with Human Touch and Relax the Back so they can expand on the exceptional products and services they provide. I appreciate the hard work put in by our group at Siena and Interactive Health’s management team to establish a mutually beneficial financial relationship where others couldn’t deliver.”
David Wood, CEO of Human Touch and Relax the Back, said, “As we continue to build our business in a rapidly expanding market segment, Siena and their team really stepped up to ensure we have the liquidity and flexibility necessary to drive exciting opportunities for growth. A big thanks to Mark Orlando and the entire Siena team for their partnership and support of Interactive Health.” CFO Bryan Cotter added, “I truly appreciate the hard work and dedication that Siena provided to get this deal to the finish line. The underwriting team worked tirelessly to make sure all parties involved were on track. It was a pleasure to work through the process with Siena, and I look forward to our partnership with them.”