The acquisition will help Ro strengthen its women’s healthcare offerings. Here are the top-line bullets you need to know.
WHO ARE THE PARTIES TO THE DEAL?
- Modern Fertility: California-based Modern Fertility, a women’s reproductive healthcare company, offers at-home fertility tests and tools, supported by physicians. Its flagship product, Hormone Test, offers continuous insights on fertility. Its product portfolio also includes digital fertility tracking tools and early pregnancy detection tests, among others. Modern Fertility claims to have grown its revenue by approximately 300% year-on-year.
- Ro: New York-based Ro offers various telehealth and telemedicine products through various platforms like Roman (for men’s health), Rory (for women’s health), and Zero (for smoking cessation). The company’s offerings include nationwide telemedicine, pharmacy distribution, and an in-home care network. In December 2020, Ro acquired Workpath, an in-home care API that connects patients with healthcare providers, such as nurses.
Source: Modern Fertility
WHY DOES THE MARKET MATTER?
The acquisition materialized in the female technology space where:
- The global female technology market is projected to reach a value of $50B by 2025, according to CB Insights’ Industry Analyst Consensus.
- A growing focus by investors and corporates on the R&D of fertility products and services like digital fertility tracking and egg freezing is one of the key drivers of this growth.
- In 2020, women’s health companies raised nearly $1.7B in funding across 240 deals.