Hims & Hers

Hims & Hers Health: Timeline2017* Summer: Andrew Dudum, a Silicon Valley entrepreneur, conceives the idea for a company to address men's health issues with discretion.* November 1: Hims officially launches as a direct-to-consumer wellness brand focused on men's health, offering telehealth consultations and discreet shipping of treatments for hair loss (finasteride, minoxidil) and erectile dysfunction (sildenafil).* First Week: Hims reportedly surpasses $1 million in sales, experiencing significant early demand.2018* October: Hims unveils Hers, a dedicated line for women's health and wellness, applying the same model of telehealth and stylish branding to areas like birth control, skincare, and women's hair care. Hers also begins offering emergency contraception.* Hims & Hers expands its product offerings beyond initial categories to include vitamins and supplements for general wellness and sleep.2019* January: Hims & Hers achieves "unicorn" status with a valuation over $1 billion after a Series C funding round.* Hims products become available in Target stores, marking the brand's first brick-and-mortar presence.* Andrew Dudum reports that the Hims & Hers platform is seeing two to three thousand patient consultations daily across various categories.2020* Early 2020: The COVID-19 pandemic begins, significantly increasing the need for and acceptance of telehealth services.* Within Days of Lockdowns: Hims & Hers rapidly launches a virtual primary care service at cost to alleviate pressure on the traditional healthcare system.* Mid-2020: Hims & Hers rolls out online psychiatry services in most states, allowing patients to receive evaluations and prescriptions for mental health conditions.* Hims & Hers also introduces individual therapy in select states and free anonymous online support groups led by counselors.* By the end of the year, Hims & Hers is providing psychiatry services in 44 states and therapy in 32 states.2021* January: Hims & Hers goes public on the New York Stock Exchange (NYSE) via a SPAC merger, becoming Hims & Hers Health, Inc. (ticker symbol HIMS), raising approximately $280 million and achieving a valuation of around $1.6 billion. The NYSE is adorned with a Hims & Hers banner proclaiming "The future of healthcare."* Hims & Hers acquires Apostrophe, a personalized teledermatology and online pharmacy service specialising in custom-compounded prescription skincare, for an estimated $150–190 million.* Hims & Hers continues to expand its product lines across sexual health (e.g., "Hard Mints"), hair care (improved topicals), and skincare.2022* Hims & Hers further expands its over-the-counter skincare line through a partnership.* By late 2022, Hims & Hers reports having facilitated over a million telehealth consultations.2023* Early 2023: Hims & Hers appoints a Senior Vice President of Mental Health.* Actress Kristen Bell partners with Hers as a mental health ambassador.* Spring: Hims & Hers launches its Weight Management program, initially focusing on conventional strategies.* Mid-2023: Hims & Hers introduces "Heart Health by Hims," its first foray into cardiovascular health, offering personalised sexual health treatments with integrated cardiovascular support in collaboration with the American College of Cardiology and partnering with Labcorp for convenient lab testing.* Late 2023: Hims & Hers announces "MedMatch," an AI-powered tool to provide clinical decision support, initially focused on mental health treatment recommendations.* Hims & Hers begins offering access to compounded semaglutide injections for weight loss at a lower cost than branded options, capitalising on drug shortages.2024* Hims & Hers rapidly scales its Weight Loss by Hims & Hers program, including compounded semaglutide, nutritional coaching, and exercise guidance.* September: Hims & Hers announces a special initiative offering compounded GLP-1 treatments for as low as $99 per month for "community heroes."* Hims & Hers acquires a peptide compounding facility in California to strengthen its supply chain for injectable medications.* Dr. Jessica Shepherd is appointed Chief Medical Officer for the Hers brand.* Hims & Hers launches the Hims & Hers Health Collective, an ambassador program for customers.* Hims & Hers achieves profitability for the first time.* Hims & Hers experiences a surge in inquiries about its weight loss program following a controversial Super Bowl TV commercial criticising the traditional healthcare system for its approach to obesity.* Two U.S. Senators express concern to the FDA about the content of the Super Bowl ad.* Hims & Hers adds pharmacy and regulatory experts to its leadership team.* Hims & Hers pilots a program with a major hospital system for patient referrals.2025* February: The FDA officially declares the shortage of semaglutide over, impacting the ability of compounding pharmacies to produce it at scale. Hims & Hers acknowledges this potential change in its weight loss offerings.* February: Hims & Hers acquires Trybe Labs (Sigmund Labs), an at-home diagnostics company with a CLIA-certified lab, to enable at-home blood testing and expand into new clinical categories.* March: Hims & Hers announces it will discontinue the Apostrophe brand and integrate its dermatology services fully into the core Hims & Hers platform, leading to some staff layoffs. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.uhaid.org