Stemtech, a global seller of nutritional products based in Pembroke Pines, Florida, has teamed up with new investment partners who will add significant value to the company in the areas of finance, product development and global strategic planning.
Ray Carter, a director of many of the Stemtech sister companies around the world, said he views this as a major positive milestone for Stemtech. “Today Stemtech has restructured its ownership to take the business to new heights. After several unforeseen challenges over the past few years, we are ready to refocus on growth to fulfill our important mission to the world,” Carter said.
On Feb. 2, 2017, Stemtech submitted a Chapter 11 reorganization filing in the U.S. Bankruptcy Court in Fort Lauderdale, Florida. The filing was converted to a Chapter 7 on March 7, 2018.
Stemtech was founded in 2005. As pioneers of a new category of dietary supplement called stem cell nutrition, the company launched with a single product, which was created to support the body’s natural renewal system of adult stem cells. Stemtech relocated its headquarters to Florida in 2014.
Stemtech’s global family of companies earned a place on Inc magazine’s List of Fastest Growing Private Companies four times (2010, 2013-2015) and is poised to regain momentum after also launching advanced formulas of its products over the past year.