Med-Fit Systems, Inc, purchased the commercial assets of Nautilus, Inc, including the machinery, tooling, and employment base in Independence, Va, according to a Med-Fit Systems news release. Under a separate agreement, Med-Fit Systems’ ownership also purchased the land and all of the buildings. The company news release notes that while Nautilus commercial had already officially closed its doors, Med-Fit Systems was able to save the brand through decisive action.
The Med-Fit Systems news release notes that what followed were a number of new product introductions in addition to the return of manufacturing from overseas to Va. In addition to creating more jobs in the US, this allowed for the “Made in the USA” stamp on basically all of the company’s products, according to Med-Fit Systems.
Med-Fit Systems is committed to keeping its employees working in Va, a recent slowdown in sales trends required the seasonal adjustment of staff at the company’s manufacturing facility, as indicated on the Med-Fit Systems news release. At the same time, the ownership decided to sale the commercial assets of Nautilus.
As noted on the Med-Fit Systems news release, Med-Fit Systems expects that a synergistic partner will be able to take the company to the next level with the proper capitalization needed to excel in the competitive global marketplace.
Source: Med-Fit Systems
