GREENWICH, Conn.–(BUSINESS WIRE)–Peloton Equity, LLC (“Peloton”) announced today that it recently entered into a partnership with a management team led by Harvey Diamond, Richard Kolodny, Mitchell Yoel and Charles Valentine to launch Journey Health & Lifestyle Brands (the “Company”). The Company, headquartered in Richmond, Virginia, will develop and acquire direct-to-consumer, premium branded health and lifestyle products and services for senior consumers. The Company’s formation occurred concurrently with the acquisition of firstSTREET for Boomers and Beyond, Inc. (“FirstStreet”).
FirstStreet represents the initial acquisition of the Company, and its family of senior-focused brands is now unified under the Journey Health & Lifestyle umbrella. These brands include the Perfect Sleep Chair®, Zinger®, Zoomer™, Perfect Walker®, WOW! Computer™, UpBed™ and many more. These brands offer innovative products that provide customers an enhanced quality of life and enable them to continue safely, independently, and gracefully on their “journey” in life.
Mr. Diamond and Mr. Kolodny were co-founders of Drive Medical (“Drive”), a leading manufacturer of healthcare products that were distributed in over 100 countries worldwide. While at Drive, they completed more than 25 acquisitions and grew the business to nearly a $1 billion in revenue. Drive was sold to Clayton, Dubilier & Rice in 2017. The predecessor firm to Peloton Equity, Ferrer Freeman, was the lead investor in Drive. Mitchell Yoel, a close associate of Mr. Diamond’s and Mr. Kolodny’s for nearly 15 years, and most recently SVP of Global Commercial Operations at Drive, is Journey Health & Lifestyle’s new CEO. Charles Valentine, a former Discovery Communications executive and direct-to-consumer retail consultant is the Chief Marketing & Strategy Officer.
“Rich and I have watched the shifting dynamics in the healthcare sector for years, and we believe strongly in the growing opportunity to bring innovative, premium products and services directly to seniors,” said