In the beginning, The Heath Company did not have anything to do with electronic kits. What it actually had to do with was kit airplanes.
The E. B. Heath Aerial Vehicle Company was founded in Chicago by Edward Bayard Heath in the early 1900s. The company designed and sold airplanes and parts for airplane kits. Ed Heath was a airplane racing pilot and designer. His most notable design, the "Baby Bullet" is still in use today.
Ed Heath was killed in 1931 while testing a prototype airplane they were designing for a client. After Ed Heath's death, the company was moved to Niles, Michigan for economic and tax reasons. The company's financial condition never recovered and it finally went bankrupt in 1935.
While the company was in Michigan it had built a racing airplane for a Howard Anthony. It was Anthony who ended up buying the company after its bankruptcy, for a rumored $300 of his wife's money.
There is some controversy over the evolution of the company name to "The Heath Company." Apparently, the name of the company had been changed to the "International Aircraft Corporation" after Ed Heath's death. Also, the company seems to have been called "Anthony Aircraft" for a short time after Howard Anthony acquired it. However, the name was changed to "The Heath Company" soon thereafter, probably because of the recognition the name had in the airplane business.
After Howard Anthony bought the company, he sold the surplus parts that came with the assets and continued to design and sell airplane parts and kits. During W.W.II, the company sold aircraft parts to the government. After the war, they primarily sold aircraft windshields and airplane floats, although they did apparently manufacture small radios for light planes both during and after the war. They also converted surplus government airplanes to civilian use and sold them.
After the end of the war, and government war contracts, the company was again economically shaky. Howard got the idea of buying and reselling war surplus electronics parts from friends. In 1947 he got an equipment lot that contained hundreds of 5BP1 cathode ray tubes. This lead to the idea of making oscilloscopes out of them and selling them as kits. This was the major turning point in the history of The Heath Company.