What companies would benefit in a partnership or a takeover

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Reference no: EM133651094

Problem

CASE: Loba Pillboxes Successful entrepreneurs recognize a gap in product offerings, often based on their personal experiences. Kate Bouchard, founder of Loba Wellness, is an excellent example. Bouchard was in her early 20s when she began having health challenges. In working with physicians, specialists, and Naturopaths, Bouchard was prescribed many pills and supplements to assist her recovery and treatment. "I was working in Vancouver, living in Surrey and commuting two to three hours daily," Bouchard says. "I'm a very type A person; I needed something to get organized." Finding that the classic drug store pill boxes didn't quite suit her aesthetic and not wanting to hide her medications away, Bouchard thought, why not produce something stylish and fashionable to showcase a commitment to health and wellness? As the founder of Armature Collective, a marketing-based agency out of Vancouver, Bouchard felt strongly there needed to be a better way of organizing your pills in an effective and upbeat way - one that motivated individuals to improve their health and wellness. Bouchard's latest entrepreneurial venture, the Loba, is nothing like your grandma's pillbox. Instead, Loba Wellness incorporates a sleek design with smart technology to make pill-taking part of a positive well-being routine. With a background in working with health-related non-profits and physicians' associations and a personal interest in home decor, Bouchard designed a visually appealing pillbox. Unlike the current ones found in the market, the Loba pillbox does not contain cheap, plastic text labels. Instead, it is easily transportable and has seven detachable compartments (one for each day) plus colour-changing LED lights controlled via the accompanying app. The app has a medication tracker and notification function to remind you when to take your pills and supplements. The sleek design and modern technology convenience bring pillboxes to the forefront of well-being. Just as you would light a scented candle, wear a Fitbit, or pour an organic coffee, taking your pills is vital to your well-being. As Bouchard claims, "it should be a cherished ritual on the road to improved personal wellness." Loba pill boxes cost $175 (including access to the app). Bouchard claims the artfully inspired design of the pillboxes will ensure you won't want to hide them away. "I wanted to create a product that was beautiful and tapped into the power of daily rituals-something that had visual cues that made caring for yourself feel good," Bouchard says. "It's something you're proud to have on your counter." Loba's daily compartments have both an AM and PM side for those who take pills twice daily. With high-end finishes and customizable LED lights, consumers will see the Loba glow when it's time to take their medications. Loba connects over Wi-Fi/Bluetooth to the Loba App, where one can stay on track to schedule their pills, customize Loba's glow, and so much more. These innovative smart technology pillboxes target baby boomers who are redefining the aging process and focusing on improving their wellness in a stylish and tech-savvy way!"

Task

Oftentimes, small businesses with great potential are purchased by larger businesses to improve their product offerings. Can you think of any organizations that would benefit from purchasing the rights to Loba pillboxes to improve their product offerings? What companies would benefit in a partnership or a takeover of Loba and why?

Reference no: EM133651094

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