Cameron Diaz Invests in Acupuncture Chain

Cameron Diaz is now an investor in an acupuncture franchise chain, along with Strand Equity, a Los Angeles-based private equity firm that led the minority investment. Scottsdale, Ariz.-based Modern Acupuncture offers a variety of traditional and cosmetic acupuncture services in 49 locations across the country — the 50th in New York’s SoHo neighborhood, the first in the Manhattan, will open next week. Services offered include acupuncture for pain relief, stress and anxiety, headaches, sports injuries, digestion and facial acupuncture for reducing lines and wrinkles. Modern Acupuncture was founded in 2016 by Matt Hale, who was previously vice president of operations at The Joint, a chiropractic franchise business. Hale’s idea was to make acupuncture more accessible and affordable, similar to what Joint had done for chiropractic work. While Modern Acupuncture’s pricing differs by location, a walk-in session in Dana Point, Calif., costs $89. The business relies primarily on a subscription model, which in Dana Point is priced at $69 a month for two sessions or $1,195 a year for unlimited sessions. Joint reported $165 million in sales for 2018, and Hale and his partners at Strand think Modern Acupuncture’s business could grow to surpass that number. Diaz, who is known as a wellness enthusiast

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