CYBEX - Heritage

Heritage

The original Cybex was actually named "The Cybex Ergometer Company" and was founded in the late 1960’s. The company was based in Ronkonkoma, New York and manufactured isokinetic rehabilitation equipment. It was acquired by Lumex (a medical supply company founded in 1953) which was publicly traded on the American Stock Exchange. The Cybex division of Lumex continued to produce rehabilitation equipment in Ronkonkoma and in 1983, Lumex acquired Eagle Performance Systems (a fitness equipment manufacturer based in Owatonna, Minnesota) and established itself as a supplier of variable resistance strength systems to health clubs.

In 1995, Lumex sold its medical supply business and changed its name to Cybex (AMEX:CYB).

In May 1997, Cybex merged with Trotter, Inc., a company founded in 1973 by engineer, Edward Trotter. Trotter manufactured primarily treadmills in its Medway, Mass plant although it had begun a strength line with the acquisition of Pryamid (small strength company near Pittsburgh). Trotter was owned by UM Holdings at the time of the merger and, in the merger transaction, UM obtained 51% interest in the publicly traded company.

In late 1997, the isokinetic business was sold and in 1998, Cybex acquired Tectrix, a California-based manufacturer of primarily bikes and steppers. Production of bikes and other Tectrix cardiovascular products was ultimately moved to Medway. Cybex currently operates out of two manufacturing facilities: Medway and Owatonna.

In an expansion of the company’s international presence, in 2001 Cybex acquired Forza, the prior Cybex dealer in the United Kingdom. This acquisition established direct sales and distribution in the UK. Cybex has distributors in 87 countries around the globe.

Acquisition debt and several difficult years of integration placed the company in an unfavorable financial position by the early 2000s. An equity offering was completed in 2004 and a follow-on offering in 2006 which allowed Cybex to restructure its balance sheet and to take advantage of its new product introductions. The revolutionary Arc Trainer established Cybex in the cross trainer category and the Eagle line re-affirmed the Cybex leadership in strength. The 750T Treadmill introduced in 2007 completed the premium product line Cybex has always been known for.

CYBEX continues to introduce innovative new products that reflect the company's heritage of exercise science and in 2008 offers over 175 individual fitness machines. The company is currently listed on the NASDAQ and trades as CYBI.

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