Hasbro's Golden Pup is part of the company's Joy For All brand.

A group of former Hasbro employees has launched Ageless Innovation LLC, buying Hasbro’s Joy for All line of animatronic pets with plans to develop additional products to stimulate and foster meaningful connections for older adults.

The new company will begin operations without business interruption.

“Ageless Innovation will leverage the heritage of the Joy for All brand to create meaningful products that address a massive market need,” CEO Ted Fischer said in a statement. “We know that loneliness, social isolation and all forms of cognitive decline are rising at epidemic rates for older adults. Focusing 100% on this amazing population, coupled with our experience and partnerships in the longevity market, will help expand our strategy of increasing fun and joy while positively impacting quality of life and lowering healthcare costs for aging loved ones and their family caregivers.”

Fischer and the rest of the founding Ageless Innovation team — Andrew Jeas, Tom Canterino and Meghan Gamboa — is the core group of people who led the innovation, incubation, launch and growth of the Joy for All business inside of Hasbro. The brand launched with a Companion Pet Cat in three colors and later introduced a Golden Pup.

“Since Hasbro launched the Joy for All brand two years ago, it has made a positive impact in the lives of seniors,” Hasbro President John Frascotti said. “The Joy for All team and countless members across the Hasbro organization worked hard to launch this new brand, and we wish the Ageless Innovation team the very best in taking this business to the next level.”