Also, Designed to Elevate the Sport of Triathlon and Encourage Exercise
Eckuity, a global investment firm that invests in early-stage life sciences and health-tech companies, today announced it has made a strategic investment alongside Sir Michael Moritz, partner at Sequoia Capital, in the Professional Triathletes Organisation (PTO), the professional body of triathlon. The reason for the investment in the fastest growing sports discipline in the world is to be able to access a highly desirable yet difficult to reach consumer by providing a distribution platform to companies developing innovative health, wellness, and medical tech products.
Eckuity’s goal is to leverage the huge marketplace opportunity that organisation’s like the PTO represent to provide access to medical, sports and wellness tech. The reasons range from using it as a source of distribution of wearables and medical devices to monetizing the trickle-down effect it has to inspire others to embrace using health-tech products.
The investment will be used to attain the recognition and rewards for professional triathletes that has always been available to top athletes in other sports like tennis, golf, soccer, baseball and basketball. By helping to raise triathlon’s profile and through the launch of the five “Majors” of the PTO Tour – equivalent to the ATP & PGA Tour events – the investors believe it will make the sport particularly attractive to broadcasters, cities and partners who wish to engage a high value and loyal fanbase. It also helps to further spread the word about using health-tech to promote exercise in the fight to battle chronic diseases.
Commenting on the investment, Charles Adamo, Executive Chairman of PTO said, “Triathlon itself is a recognized global brand for unwavering dedication, ultimate endeavor, unstoppable passion and tremendous achievement. Our PTO Professionals provide an inspiration to all those who face challenges in their lives and want to overcome obstacles and achieve their potential. We believe Eckuity’s healthcare expertise will assist in our goal of creating a more health and wellness conscious community by providing access to innovative healthcare technologies.”
“We are excited about not only the enormous potential of the business, but also our ability to leverage this platform for the distribution of outcome-changing health-tech products and services. We are fully aligned behind PTO’s mission and believe the management team will consistently deliver world-class events bringing this sport the coverage it so rightly deserves, thus providing a high profile platform for influencing our culture to better mental and physical health,” said Youssef Sebban, Managing Partner at Eckuity.
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