One year after its venture capital arm invested in family planning company Ovia Health, LabCorp is acquiring it.
This transaction will expand LabCorp’s women’s health business and give it a firm foothold in the field of reproductive benefits. It will complement some of the tests LabCorp provides through its direct-to-consumer service, including fertility tests and pregnancy tests. The two companies did not disclose the terms of the transaction, but it is expected that Ovia will bring in approximately $20 million in revenue each year.
Although LabCorp has not yet shared specific details of how it plans to integrate the services of the two companies, Ovia CEO Paris Wallace stated in a press release that he is “particularly excited to work with Labcorp to develop new products and services to meet unmet needs. . People with reproductive health problems.”
Ovia Health has three apps: one for tracking fertility, one for tracking pregnancy stages, and a parenting app. They include cycle tracking, algorithms for predicting fertility, articles, and guidance.
Ovia has both a consumer-oriented service version and benefits provided through patient employers.Both have some privacy considerations, such as Consumer Reports Survey On the period tracking app.
The company collects users’ IP addresses, mobile advertising IDs and application activities, According to its privacy policy. For users of the consumer-oriented version of the app, it can use this information to serve ads to them. For those who access it through its health plan, the company may share aggregated data with employers, According to the Washington Post.
In addition, the information provided by Ovia and his coaches cannot be used as medical advice, which may cause questions for some prospective parents and novice parents.
Ovia is one of an increasing number of companies that combine technology with reproductive benefits. For example, Progyny, Listed in 2019, Provide members with diagnostic tests and a network of fertility experts.Other startups are taking the following approach Establish face-to-face and telemedicine clinics Pay special attention to obstetrics.
Photo credit: Aleksei Naumov, Getty Images
