10.29.21
FemTec Health, a new "health sciences company with a mission to transform women's healthcare," has acquired Birchbox for $45 million, according to recent reports.
FemTec Health is a startup that publicly launched on October 28th, and uses personalized data and analysis to create interactive healthcare and individualized products.
FemTec Health's patent-pending "BiomeAI" is a platform that uses AI and deep machine learning to translate consumer, genetic, microbiome, and biometric data into the delivery of holistic healthcare personalized for every woman.
Dr. Kimon Angelides is the company's founder. Since May of 2020, Angelides and her team have been building its data analytics platform to create a new standard for the continuum of care for women.
The company aims to bring together product, services and data analytics—starting with Birchbox, which will relaunch later this year.
FemTec Health already has over 10M members at launch—plus two clinical trials in progress, and a team of over 150 experts.
Birchbox will Relaunch Later this Year
FemTec Health will relaunch of Birchbox later this year, and will announce additional consumer products.Birchbox will shift its focus from "beauty product discovery" to curated, personalized skin and healthcare products utilizing FemTec Health's BiomeAI platform.
Katia Beauchamp, founder of Birchbox, says, "I have always believed in the power of women as a community, and I believe this is a natural step in the evolution of Birchbox. Eleven years ago, we were compelled by an ability to build deep customer relationships month after month.
Beauchamp continues, "FemTec's vision for the future of women's healthcare was inspirational to me and I could see the opportunity for the thousands of women in the Birchbox community to extend beyond consumer beauty products to a more holistic health and wellness offering."
Kim Capone, chief scientific officer, FemTec Health, says, "Women's health has been under-researched and underrepresented for too long...What I hear consistently is that women do not know where to go, or what products to choose that may help."
Capone continues, "This is where FemTec Health's unified and coordinated platform comes in - we provide personalized services and science-based products that are meaningful and effective for women at all stages of their lives. I believe the future is female and FemTec Health will help get us there."
Acquisitions Will Accelerate Growth
FemTec is leveraging its acquisitions to accelerate growth, the company says. In addition to Birchbox, FemTec Health has acquired Mira Beauty, the world's first universal store and collaborative library for beauty.FemTec Health also acquired Liquid Grids, a social marketing platform for the healthcare industry that has over 1.5 million members, to further the growth of its robust community of women.
Angelides, executive chairman and interim CEO, says, "Our first acquisitions within women's health and beauty are key to our mission to revolutionize the women's healthcare and beauty industry. Women deserve a comprehensive, all-encompassing model designed specifically for them. The starting point is to really understand a woman's healthcare needs and then apply smart technology like AI and predictive analytics to translate the data into actionable outcomes."
Angelides adds, "Our platform can be implemented across all areas including specialty care, wellness and prevention, reproductive care, sexual wellness, mental health, chronic care, and beyond. It is driven by state-of-the-art genomics and digital technologies that empower women to take control of their health at every stage of their life journey, based on their individual health profiles."
FemTec Health's Leadership Team
Dr. Kimon Angelides is the founder of six leading healthcare companies including EosHealth renamed Livongo.FemTec Health's leadership team also includes Dr. Kimberly Capone, Chief Scientific Officer (formerly with Johnson & Johnson), and Dr. Laura Clapper, Chief Operating Officer (formerly Cigna, CVS-Aetna).
Investors, capital and shareholders include Longmont Capital, Ithaca LifeSciences, Unilever Ventures, Shiseido, e.Ventures, Viking Global, and Trinity Capital with more than $38M raised to date. Additionally, strategic partnerships with leading health and wellness companies will be announced soon.
