The therapeutic heating company has raised $850,000 in equity since July, according to the new document. That’s up from the $500,000 in equity the company revealed in a filing last August.
Pittsburgh-based ReGear started out in the sports and military markets, having licensed its technology from the U.S. Navy. But for ReGear, the big money lies in the long-term care market.
The company’s four-pound ReBound device can deliver an electromagnetic field deep into tissues to generate therapeutic heating up to 4 centimeters below the skin’s surface. ReGear says the device decreases pain while it increases mobility and flexibility.
The company markets the device for a wide range of conditions, including arthritis, carpal tunnel syndrome, tendinitis and shin splints. The ReBound pain management device comes with several different “therapy garments,” which contain heating coils and are shaped to fit various body parts.
ReGear has an impressive client list, including several professional sports teams and universities such as the Chicago Cubs, Memphis Grizzlies and Florida State University. Another key client is Life Care Centers of America, which operates or manages hundreds of long-term care centers across the country.
ReGear’s lead investor is Pittsburgh-based private equity firm Stonewood Capital Management.
CEO Jeff Swoveland didn’t return a call.