Hims & Hers Health, an online direct-to-consumer telehealth company that uses remote consultation to prescribe cosmetic and sexual health products, announced its intentions to acquire teledermatology specialist, Apostrophe. Financial details of the transaction are not disclosed at this time.
Apostrophe has built a clinical platform that powers bespoke treatment plans that include personalized combinations of topical formulas and oral medications fulfilled by the affiliated Apostrophe pharmacy, present in 29 states.
As per the agreement, the entire Apostrophe leadership and team, is expected to join Hims & Hers to help run the company’s growing dermatology business line. Apostrophe CEO and co-founder Ben Holber will become CEO of the Hims & Hers dermatology business line, reporting directly to Hims & Hers Chief Operating Officer Melissa Baird.
Andrew Dudum, CEO and co-founder of Hims & Hers, stated: “Personalized dermatology has become increasingly of interest to our consumers. In the seven years since its founding, Apostrophe has built a brand that, like Hims & Hers, has attracted and heavily engaged GenZ and Millennial consumers. With this investment, we will accelerate our dermatology business, offering highly personalized dermatology treatments at scale. We are excited to welcome the Apostrophe team to the Hims & Hers family.”
“We started Apostrophe to serve the millions of people who want access to board-certified dermatologists and personalized prescription medication. Joining a world-class organization like Hims & Hers will now allow us to help patients, at scale, improve their skin health”, said Ben Holber, CEO and co-founder of Apostrophe.
Recently, Hims & Hers acquired Honest Health, a hair loss virtual clinic for men. The telehealth category saw a massive influx of VC funding during the first quarter (Q1) of 2021, raising a total of $2.4 billion, according to Mercom’s Q1 2021 Digital Health Funding and M&A Report.
