2021 is a landmark year for the femtech industry, with global VC investment crossing the $1 billion mark for the first time, according to PitchBook data. When Ida Tin, co-founder and chairwoman of Clue, a female health tracking app, coined the term “femtech” in 2016, funding for such startups hadn’t even hit half of this year’s total so far. Secular drivers have propelled new growth opportunities in the space, including increased representation of women in the VC industry, rising awareness and acceptance of women’s health issues, and a growing prevalence of infectious diseases among women in some African and Asian countries, said Kaia Colban, an emerging tech analyst at PitchBook.
Women’s Health Arizona, the largest integrated practice of OB-GYN physicians in the state, announced today further growth through a strategic partnership with Valley Women for Women, an acclaimed women’s health practice with five locations serving the greater Phoenix area, and that Juan Vega has been appointed CEO to lead the organization in this new chapter. Established by Mia Lynne Van Eken, D.O., and Denise Y. Belisle, M.D., Valley Women for Women is a practice comprised of 40 female provider staff who are focused on developing strong relationships with patients to address individual needs.
In the past 10 years, a significant number of private equity firms have invested in or acquired medical groups that provide women’s health care in the form of OB/GYN or fertility services, with most of these changeovers occurring over the past 3 years, according to a research letter published in JAMA Internal Medicine. In all, the research identified 24 organizations that had moved to private equity affiliations between 2010 and 2019, comprised of 605 offices and 2,019 clinicians at the time of affiliation. The trend for acquisitions also accelerated with time, and within the last two-year period (2017-2019), they identified 17 such transitions.
WELL Health Technologies Corp. (TSX: WELL) (“WELL” or the “Company”), a company focused on consolidating and modernizing clinical and digital assets within the healthcare sector, is pleased to announce it has entered into a definitive stock purchase agreement dated September 1, 2021 (the “Agreement”) with the shareholders of WISP, Inc. (“WISP”), a US technology leader and innovator in the delivery of quality telehealth and e-pharmacy experiences specializing in women’s health to acquire a majority of the issued and outstanding shares of WISP (the “Transaction”) for total a total transaction value of approximately US$41 million, which includes a future conditional earn-out of up to approximately US$7.4 million.
Reproductive Gynecology & Infertility (“RGI” or the “Company”), a provider of infertility and gynecological services, has completed a majority recapitalization transaction with Webster Equity Partners (“Webster”). Founded in 1992 in Akron, Ohio, RGI is an industry-leading physician practice that provides a wide range of infertility and reproductive medicine services, including in vitro fertilization (“IVF”), egg freezing, genetic testing, and fertility surgery. Founded in Akron, OH, the Company maintains locations throughout Ohio, including Columbus, Cleveland, Canton, and Canfield.
As demand, coverage and investment are all on the rise and transactions proliferate, Proskauer explores certain attributes of the fertility services industry.
Unified Women’s Healthcare (“Unified”), a leading practice management platform in women’s healthcare backed by Altas Partners (“Altas”), funds managed by the Private Equity Group of Ares Management Corporation (“Ares”) and Oak HC/FT, announced Tuesday that it has acquired Women’s Health USA (“WHUSA”), a national leader in practice management services for the women’s health sector. Sverica Capital Management, the current majority shareholder in WHUSA, has reinvested a portion of its proceeds into the combined company. Through this combination, Unified and WHUSA represent the largest physician practice management company dedicated solely to women in the United States.
The women’s health market continues to see unprecedented competition for transactions. These trends, along with COVID-19-specific transaction considerations, create interesting dynamics for investors and providers in the women’s health and fertility subsectors, as discussed during an Aug. 10, 2021, webinar, “Key Transaction and Regulatory Considerations for Women’s Health and Fertility,” presented by McGuireWoods healthcare lawyers Kayla Marty and Erin Dine.
Labcorp (NYSE: LH), a leading global life sciences company, announced Thursday that it has acquired Ovia Health, a digital health platform used by millions of women seeking information and support with family planning, pregnancy and parenting. The transaction extends Labcorp’s position as a leading, go-to source for women’s health insights, opens new avenues for personalized care experiences and fosters better dialogue between health care providers and their patients. Ovia Health, one of the first “femtech” companies, has supported more than 15 million family journeys through its suite of interactive, experience-focused platforms.
Arizona OBGYN Affiliates (AOA), the largest integrated practice of OB-GYN physicians in Arizona, announced Tuesday its rebrand to Women’s Health Arizona and new strategic partnership with West Valley Women’s Care, an esteemed practice with a legacy of serving the Phoenix community for almost 20 years. Together with West Valley Women’s Care, Women’s Health Arizona includes nearly 70 physicians and advanced practice providers and support team members.
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