Direct-to-consumer well being startup Hims & Hers is shopping for a dermatology enterprise. The corporate just lately struck a deal to purchase Apostrophe, which has the same enterprise mannequin, for an undisclosed quantity.
Oakland, Calif.-based Apostrophe sells prescription zits remedies, comparable to topical lotions and tablets. It additionally provides remedies for wrinkles, rosacea and hair loss.
Like with Hims, customers conduct a virtual consultation with a dermatologist, together with filling out a questionnaire and sending in photographs of their pores and skin, earlier than getting a prescription delivered. Apostrophe contracts with an outdoor doctor group for the visits, which value about $20. The corporate is presently licensed to meet orders in 29 states.
With the acquisition, Hims received’t simply be including to the dermatology companies it will probably present, however will even get extra achievement facilities to assist ship medicines to sufferers. Apostrophe presently has three pharmacies in Arizona, California and Colorado.
“Personalised dermatology has develop into more and more of curiosity to our shoppers,” Hims & Hers CEO Andrew Dudum mentioned in a information launch. “Within the seven years since its founding, Apostrophe has constructed a model that, like Hims & Hers, has attracted and closely engaged GenZ and Millennial shoppers. With this funding, we’ll speed up our dermatology enterprise, providing extremely customized dermatology remedies at scale.”
After the corporate went public through a blank-check deal earlier this yr, Dudum mentioned the corporate would look to increase into extra areas of care, with a “enormous continued focus” on psychological well being, main care, and dermatology. At the start of the month, Hims acquired Trustworthy Well being, a London-based firm that makes a speciality of hair loss merchandise.
Hims’ acquisition of Apostrophe is anticipated to shut within the subsequent three months. Apostrophe CEO and Co-Founder Ben Holber will lead the mixed firm’s dermatology enterprise line.
Credit score: Screenshot of Hims web site