Direct-to-consumer health startups His and hers Is buying a dermatology business. The company recently concluded a deal to acquire Apostrophe, which has a similar business model and the amount of the acquisition is undisclosed.
Apostrophe in Oakland, California sells prescription acne treatments, such as topical creams and pills. It also provides treatments for wrinkles, rosacea and hair loss.
Like Hims, users Conduct a virtual consultation Before getting the prescription, communicate with the dermatologist, including filling out questionnaires and sending skin images. Apostrophe signed a contract with an external team of doctors at a cost of approximately US$20. The company is currently approved to fulfill orders in 29 states.
Through this acquisition, Hims will not only increase the dermatology services it can provide, but will also acquire more fulfillment centers to help deliver drugs to patients. Apostrophe currently has 3 pharmacies in Arizona, California and Colorado.
“Our consumers are paying more and more attention to personalized dermatology,” Hims & Hers CEO Andrew Dudum said in a press release. “In the seven years since its establishment, Apostrophe has established a brand similar to Hims & Hers, attracting and participating in a large number of GenZ and millennial consumers. Through this investment, we will accelerate our dermatology business. Scale to provide highly personalized dermatology treatment.”
After the company Listing via blank check transaction Earlier this year, Dudum stated that the company will seek to expand into more areas of care, with “continuous attention” to mental health, primary care and dermatology. Earlier this month, Hims acquired Honest Health, a London-based company specializing in hair loss products.
Hims’ acquisition of Apostrophe is expected to be completed within the next three months. Ben Holber, CEO and co-founder of Apostrophe, will lead the combined company’s dermatology business line.
Image source: Screenshot of Hims website
