The Cryotherapy industry has historically seen a slowdown In the winter months during the past 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 the most of this 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 being exposed to harmful gases which cause asphyxiation and burns. With the popularity of the treatment still growing rapidly, businesses that are looking to scale their practices are choosing our technology in order to mitigate risk of lawsuits and sub-par customer experiences.
We had 5 major objectives last quarter:
Improve existing product quality of the Arctic and Penguin devices, which specifically related to improving durability, modularization and efficiency in nitrogen consumption.
Increase production capacity in order to keep up with the demands of our sales teams and distributors. This was achieved through introducing lean manufacturing principles, better supply chain procurement and expanding our production floor.
Acquisition of the CE - Medical certification in order to unlock the medical industry to equip our devices in hospitals and clinics.
Grow our global distribution network by bringing on board technology partners in new geographies that can service our growing global demand. Last quarter we welcomed new distribution partners in Taiwan, South Korea, Italy, Germany, U.K., Slovenia, Czech Republic, Slovakia, and Hong Kong.
Build a strong service team to be able to make sure our global technology footprint is working without any down time. We have been strategically scaling this team as more devices are sold in to markets. With a 24/7 Helpdesk we have been able to solve any issues our clients have remotely and in person when needed.
The strategy for the up coming year is to continue to grow our team and raise awareness of cryotherapy through strategic and corporate partnerships. We are starting to see traction and buy-in from larger corporate businesses who now have a cryotherapy firm to turn to for the highest standards and medical certifications. This has been made possible due to our work with the U.S. Air Force and other government entities who have integrated ºCRYO Science technology into their organizations.
°CRYO are the world leaders in the Cryotherapy industry, this 5-year journey has resulted in state of the art technology, unparalleled retail service, exceptional multi-industry gas providing service, and over 25,000 happy customers!
°CRYO Science™ in partnership with Canopy Environmental is proud to announce that the United State Air Force‘s special tactical unit has incorporated the °CRYO Arctic™ Whole Body Cryotherapy Chamber into their squadron at Joint Base Lewis-McChord, Washington.
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