AlterG® is redefining rehabilitation, training, and performance with its NASA-developed Anti-Gravity Treadmill®, which reduces impact and pain during conditioning and physiotherapy. Shortened recovery times, injury reduction and improved mobility have increased demand for this one-of-a-kind treadmill in the medical, physiotherapy and athletic communities.
The Anti-Gravity Treadmill creates an unweighted environment by using differential air pressure which adjusts to the user’s body weight, effectively reducing it by up to 80%. “The AlterG has been very effective for physical therapy and medical rehabilitation because it allows users to begin therapy sooner, improving the speed and quality of their recovery. For the same reasons, it’s been valuable for sports teams healing injured athletes,” says AlterG CFO, Kevin Davidge.
Over the past few years, the company has successfully navigated a strategic transformation with the addition of new management, streamlined operations, marketing and the expansion of its distribution channels. With a strong customer base and proven success, AlterG now looks to expand to a broader market.
“We are focused on getting people moving and our growth plans center around creating more accessibility to our products,” Kevin says. “Our users love the Anti-Gravity Treadmill and its benefits, but the price point has limited its adoption.”
To drive the business forward and implement its expansion plans, AlterG needed to refinance term debt that did not fit its financial profile, and more importantly, find a partner that shared its vision for growth.
“We couldn’t live within the restrictions of the existing debt facility because there was not enough flexibility for us to invest in our expansion,” says Kevin.
After meeting with several financial firms, AlterG was introduced to First West Capital’s Regional Director, Ontario, David Hastie, through its advisor. “David approached our situation with zest and enthusiasm from the very first call, and he had a refreshing perspective on our business,” shares Kevin. “I felt that David understood where we wanted to take the business, and he was ready with a solution to help get us there.”
David created a junior capital financing solution that allowed AlterG the ability to grow while being able to service the debt in a flexible way.
“AlterG has an extremely unique product. In order to benefit more people recovering from injury, AlterG adjusted its model and positioned itself for growth. We’re pleased to have put together a deal that provides the flexibility to activate its continued expansion. As a runner myself who has rehabilitated several injuries, I became very passionate about the product and it is very rewarding to know that First West Capital’s financing will allow even more patients and athletes to experience the many benefits of an AlterG treadmill,” shares David.
He adds, “I was even able to try the treadmill myself, and it was amazing! The ability to run with minimal impact on my knees and back was an incredible feeling.”
“Financing from First West Capital gives us the runway to execute on our strategic plans to grow the company. Without it, we would have had to explore less attractive options such as raising more expensive equity capital or sacrificing expansion opportunities,” Kevin explains.
He continues, “It was very important to find great partners that are willing to work with us as we evolve and grow. We look forward to a long-term relationship with First West Capital.”
Beyond reaching new markets, AlterG will continue to be a leader in developing anti-gravity technology. “There is potential to develop other uses for anti-gravity such as balance systems, bikes, and other rehab modalities,” says Kevin, “We’re very excited and optimistic about the future.”