The term femtech wasn't coined until 2016, but within a short period of time, the category has grown exponentially, with an estimated worth of $1.073 trillion by 2026, according to nonprofit FemTech Focus.
Healthcare entrepreneur Dr. Kimon Angelides, founder of six leading healthcare companies including EosHealth, renamed Livongo, launched a new women's health sciences and beauty company focused on using technology and data to transform the total healthcare experience for women.
At launch, FemTec Health has over 10 million members, two clinical trials in progress, a team of over 150, and a deep bench of women in leadership, including Dr. Kimberly Capone, Chief Scientific Officer (formerly with Johnson & Johnson), and Dr. Laura Clapper, Chief Operating Officer (formerly Cigna, CVS-Aetna).
The company has been building a platform to create a new standard for the continuum of care for women by bringing together product, services, and data analytics since May 2020. Key to the solution is data analytics platform and infrastructure to accommodate wide-ranging products and services, and acquisitions that provide continuity and coordination of care for every woman, at every life stage. The patent-pending BiomeAI engine uses AI and deep machine learning to translate consumer, genetic, microbiome, and biometric data into the delivery of holistic healthcare personalized for every woman.
Later this year, FemTec Health will be announcing the company's innovative consumer offering, including the re-launch of Birchbox, shifting the focus from beauty product discovery to curated personalized skin and healthcare products utilizing the BiomeAI platform.
"Women's health has been under-researched and underrepresented for too long. As a woman and a scientist, I have often been the sounding board for friends and family on their wellness journey—offering advice and feedback on skincare, vaginal care, probiotics and supplements that can help with issues in skin and vaginal health, PMS and menopause. What I hear consistently is that women do not know where to go, or what products to choose that may help. 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," said Kim Capone, Chief Scientific Officer.
Investors, capital, and shareholders include Longmont Capital, Ithaca LifeSciences, Unilever Ventures, Estée Lauder, Shiseido, e.Ventures, Viking Global, and Trinity Capital with more than $38MM raised to date.
"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," said Dr. Angelides, Executive Chairman and interim CEO.
"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," says Dr. Angelides.
Dr. Angelides brings decades of experience across healthcare, wellness, business-to-business, and consumer products in public and private companies.
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