Hims & Hers, a direct-to-consumer virtual healthcare company, has a long history treating male pattern baldness, but today the company is launching two new products that focus on the problem in women.
Clients suffering from hair loss can now access a topical spray of finasteride and minoxidil, as well as oral spironolactone, a pill that can lower androgen levels. Users can complete a hair care rating that gives customers more information about their options.
To get a prescription for the spray or pill, users must complete a medical consultation through the Hims & Hers platform with a healthcare provider. If a doctor prescribes the drug, users can purchase the treatment through Hims & Hers.
WHY IT MATTERS
Hair loss is common in women. In fact, around 50% of women experience noticeable hair loss Cleveland Clinic.
Hair loss is more common in women over 40 and in women who have just had a baby. It also affects women undergoing chemotherapy and those going through menopause.
“This launch is a direct result of Hers’ deep relationship with our consumers, listening to their health goals and what they believe is missing in the hair loss market,” said Hilary Coles, co-founder and SVP of brand and innovation at Hims & Hers in a statement. “Our ability to continue to bring clinically proven ingredients to market in a unique dosage form through innovative compounding preparations remains unparalleled. We’re dedicated to destigmatizing issues like hair loss so women aren’t embarrassed to confidently take control of their health!”
THE BIGGER TREND
Founded in 2017, Hims initially focused on men’s sexual health and well-being. However, the brand quickly began to expand, launching Hers, a platform on which it focused women health. Today the company offers a psychiatric service and COVID-19 testing.
In January 2021, the company went public with $280 million SPAC merger with Oaktree acquisition. However, the stock has struggled since it hit public markets.
Its main competitor, Ro, also started in men’s health, but now includes a variety of other offerings. Unlike Hims & Hers, Ro is still a private company. It landed a whopping $500 million in funding in March 2021, bringing its overall valuation to $5 billion.