Purpose Therapy Box Founders Sell Company
HERMITAGE, Pa. — The founders of Purpose Therapy Box LLC say they are confident the new owners of their start-up will carry on its mission as they envisioned it.
Co-CEOs Ali Izzo Linton and Holly Masters confirmed they have sold the company, which they started in 2017.
“We have officially passed the torch and feel more than comfortable that Purpose is in good hands,” Linton said.
Purpose sells subscription boxes containing items designed to help seniors and others with maintaining cognition, fine motor skills and personal care, as well as items including photos and personalized messages.
The partners, who are graduates of the Penn State University Shenango Campus occupational therapy assistant and human development and family studies programs, were approached by a larger competitor that was interested in acquiring Purpose, Linton said.
“After giving it a lot of thought, Holly and I both decided that it was a great opportunity to allow Purpose to continue to thrive and help seniors all over the world,” she said.
“This company matched our mission and vision and we felt that it was a great match,” Masters said.
Bound by a nondisclosure agreement, the partners could not say who purchased the company, and only confirmed that the price was in the six-figure range.
They separately sold a division they had created that provided subscription boxes and apparel to occupational therapy practitioners to another occupational therapy assistant, they reported, but they did not provide further information regarding that sale.
“Purpose brought us so many amazing adventures, learning experiences, and the ability to help seniors across the United States. I could not have asked for a better friend and business partner to work with,” Linton said
“The last four years growing Purpose has been challenging and rewarding” Masters said. “It has proven to us that, with time and dedication, we figured out how to create and run a company from the ground up. I am extremely proud of every accomplishment and order we received.”
In 2019, Purpose won $15,000 in a pitch competition hosted by Pennsylvania Technical Assistance Program, $16,000 from FedEx’s Small Business Grant Contest and $1,500 at the Rising Rust Belt regional revitalization summit. The company was also a finalist in the first Shark Tank event hosted by the Youngstown Business Incubator that year.
Now that the partners have sold Purpose, both plan to continue to work as occupational therapy assistants.
In addition, Linton recently gave birth to a daughter, Sophie. Masters said she is looking forward to redoing her grandparents’ farm house and expanding her wedding photography business.
Pictured: In this file image from May 2019, Holly Masters and Ali Izzo, founders of Purpose: The Therapeutic Subscription Box with Dr. Eric Barron, president of Penn State University.
Copyright 2024 The Business Journal, Youngstown, Ohio.
