Direct-to-consumer virtual healthcare company Hims & Hers has a long history of treating hair loss in men, but today the company is rolling out two new products focused on the issue in women.
Customers experiencing hair loss will now be able to access a topical Finasteride and Minoxidil spray, as well as oral spironolactone, a pill that can decrease androgen levels. Users can take a hair care assessment, which will give customers more information about their options.
In order to get a prescription for the spray or pill, users need to complete a medical consultation through the Hims & Hers platform with a healthcare provider. If a medical professional prescribes the medication, users will be able to purchase the treatment through Hims & Hers.
WHY IT MATTERS
Hair loss is common in women. In fact, about 50% of women experience noticeable hair loss, according to the Cleveland Clinic.
Hair loss is more common in women over 40 and for those who just had a baby. It also impacts women going through chemotherapy and those going through menopause.
“This launch is the direct result of Hers’ close relationship with our consumers, listening to their health goals and what they feel is missing from the hair loss market,” Hilary Coles, cofounder and SVP of brand and innovation at Hims & Hers, said 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’ve made it our mission to destigmatize issues like hair loss so that women aren’t embarrassed to confidently take control of their health!”
THE LARGER TREND
Launched in 2017, Hims initially focused on men’s sexual health and wellbeing. However, the brand quickly began to expand and launched Hers, a platform focused on women’s health. Today the company’s offerings include a mental health service and COVID-19 tests.
In January 2021, the company went public through an $280 million SPAC merger with Oaktree Acquisition. However, its stock has struggled since hitting the public markets.
Its main competitor Ro also started in the men’s health space 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 total valuation to $5 billion.