The Cincinnati-based company told MedCity News that HerMD, a minority-founded startup founded by women, has raised $10 million to expand sexual health and menopause services for women.
The company currently operates two centers — one in Cincinnati and the other in Crescent Springs, Kentucky — and attracts patients from across the U.S. and beyond. Dr. Somi Javaid, chief medical officer and founder of HerMD, said patients come from 30 states and even Canada and receive specialized care at both locations. Javaid, an OBGYN, said the funds raised will allow the company to open new locations and offer virtual care so more women can access sexual health and menopause services. JAZZ Venture Partners led the Series A round.
HerMD plans to open new women’s health care centers in Indiana and New Jersey in 2022. After that, in 2023, it hopes to open more locations in Denver, Nashville and Atlanta, among others — though no markets have been confirmed. There are 10 centers in total, Javaid said. The company also plans to States in 2022 and all 50 states by the end of next year. She hopes the additional centers and telehealth services will address issues many women face.
“About 43 percent of women struggle with some type of sexual problem, whether it’s low libido, painful intercourse, or problems with arousal or orgasm,” says Javaid. “All of our providers are professionally trained in sexual health.”
She noted that HerMD clinicians provide individualized treatment for menopause and sexual dysfunction, taking into account a patient’s physical symptoms, mental health, and relationships.
have Several startups tackling women’s health issues Specifically.However, even with companies like this Tia – Provides everything from sexual and reproductive health to women’s primary care – and GenevaJavaid, a telehealth platform that supports menopause care, says there is still a significant need for more specialized women’s sexual health and menopause services. This includes treating situations where women have few, if any, local options.
“For example, we provide Botox for a condition called vaginismus, which in some women makes sexual intercourse impossible,” Javaid said.
She believes it is imperative to provide women with more care options in the area of sexual health. Currently, resources including research funding and drugs still focus more on male sexual dysfunction than female sexual health.
“WWhen it comes to women’s sexual health care, they are way behind,” she said.
But it’s not just the physical disease or condition that HerMD is addressing. It aims to treat women’s health continuum, including mental health, through an evidence-backed approach, she said.
The startup is also tackling the financial side of getting help with sexual health issues.
“A lot of sexual healthcare providers go to concierge services, or they have a membership model,” Javaid said. “Another huge difference for us is that we insure all gynaecological procedures.”
Additionally, HerMD offers a discounted out-of-pocket option if the patient is uninsured.
Part of the company’s growth plan will involve continuing to increase staff from clinicians to members of administrative and executive teams to support in-person care and telehealth. All of this requires capital, which the company has been able to attract so far.
“This funding round marks an incredible milestone in women’s healthcare,” JAZZ partner Meghan Reynolds said in a statement.
Reynolds appreciates HerMD’s focus on underserved areas, including women’s sexual health, menopause and traditionally neglected areas. “We believe the HerMD model of care is uniquely positioned to disrupt one of the fastest growing segments in healthcare.”
Photo: TAW4, Getty Images
