Hers
The deal has brought the consumer telehealth and wellness company approximately $280 million in proceeds that it will use to grow and invest in new product categories.
The newly announced deal is expected to close in Q4 2020, and values the direct-to-consumer telehealth company's combined entity at $1.6 billion.
Also: VillageMD's new chief innovation officer, and Hims & Hers brings on behavioral health expertise.
Virtual primary care customers living in specific regions will have the option to use Alto's app and services at no additional cost.
News of the potential sale or merger with a special purpose acquisition company appears at the same time as one-on-one counseling and a key strategic hire.
Following a virtual consultation, both companies are supplying Rutgers Clinical Genomics Laboratory's saliva-based molecular test to consumers at $150 per kit.
Also: FDA COVID-19 policy allows for remote use, digital modifications to ophthalmic devices; 23andMe launches genetics study to understand varying COVID-19 responses.
Now consumers are turning to the web for their health products—whether it is to get a pharmacy prescription, a urine test or an “embarrassing” sexual health product.
This funding comes on the heels of the company's launch of Hers, a female health-focused online order and delivery service.
The new product line will prescribe and deliver a range of women's health products focused on hair, skin and sexual health.