A new start-up is offering easy access to a cool medical treatment in a spa setting. The procedure — known as, cryotherapy, or cold therapy — literally cools the body down to minus 260 degrees, which some claim helps to reduce chronic pain.
"More Americans suffer from chronic pain than [from] cancer, diabetes and heart disease combined, and they'll do anything to stop the pain," entrepreneur Steve Welch told CNBC.
Cryotherapy itself is not new, but Welch says, most such treatment is performed in a doctor's office "which most people have to be on their death bed to go to, and the price point was simply too high for a product the people often use as often as they drink coffee."
So Welch, along with Jim Donnelly, co-founded Restore Cryotherapy in 2015 with the intent of making cryotherapy services more accessible and enjoyable. And they're calling it "the antithesis of the traditional doctor's office."
That led the two to create their business model around access and convenience, by building retail locations in shopping malls across the country. Each store offers an a la carte menu of wellness services for cryotherapy under the supervision of a nurse practitioner. Its primary service, known as whole body cryotherapy, costs $30-$40 a session, or less if a customer purchases a package.