Cybex International
Cybex International was an American fitness equipment manufacturer for commercial and consumer use. It produced mainly cardiovascular and strength equipment such as Arc Trainers, treadmills, stationary bicycles and steppers. Cybex marketed its products through distributors in over 87 countries. The company had over 600 employees and its products were manufactured in their two manufacturing facilities located in Medway, Massachusetts and Owatonna, Minnesota.
History
Cybex International was founded in the late 1960s as "The Cybex Ergometer Company" in Ronkonkoma, New York. It was acquired by Lumex, which was traded publicly on the American Stock Exchange. At that time, it manufactured isokinetic rehabilitation equipment. In 1995, Lumex sold its medical supply business and changed its name to Cybex. In May 1997, Cybex merged with Trotter, Inc., primarily a manufacturer of treadmills, whose manufacturing facility was located in Medway, MA. In this merger, UM Holdings, the owner of Trotter, Inc., gained 51% of Cybex's interests and publicly traded the company. In 1998, Cybex acquired Tectrix, a California-based manufacturer of primarily bikes and steppers; the production of which was moved to Cybex's manufacturing facility in Medway. Cybex acquired direct sales and distribution in the United Kingdom by its 2001 acquisition of Forza. Arc Trainer is its most recent product.In 2010, a New York jury awarded a plaintiff $66.5 million for personal injuries suffered after a piece of Cybex strength equipment fell on her. In 2012, the plaintiff settled the claim for $19.5 million as Cybex would likely have been forced into bankruptcy without the settlement. In February 2013, UM Holdings purchased the outstanding publicly traded stock of CYBI, taking the company private.