In this post I link to some articles on Ro Telehealth.
To learn more about a company simply search Google news.
Digital elective care and telemedicine provider Ro raises $200 million at a reported $1.5 billion valuation
Jonathan Shieber@jshieber / 4:36 pm EDT•July 27, 2020 from TechCrunch:
In three years Zachariah Reitano’s startup, Ro, * has managed to hit a reported $1.5 billion valuation for its transformation from a company focused on treating erectile dysfunction to a telemedicine service for a range of elective and urgent care-focused treatments.
*This link is to Ro Company Profile from CrunchBase – “Discover innovative companies and the people behind them”. Crunchbase has two premium programs, Extra Crunch which is $15 a month, and CrunchBase Pro which is $349 a year and is non-refundable. CrunchBase Pro automatically renews yearly.
Through Rory for women’s health, Roman for men’s health and Zero for smoking cessation, Reitano and fellow co-founders Saman Rahmanian, and Rob Schutz, built a company that now treats 20 conditions, including sexual health, weight loss, dermatology, allergies and more, according to a statement from the company.
Ro also has a new pharmacy business, Ro Pharmacy*, which is an online cash pay pharmacy offering more than 500 generic medications for just $5 per month per drug. And the company is getting into the weight loss business through a partnership with the private equity-backed healthcare company, Gelesis.
*Where every medication is $5 per month.
Ro Pharmacy is a cash-pay, mail order pharmacy. That means convenient deliveries and low prices without insurance. Ro Pharmacy carries over 500 generic medications and is live in 22 states. See if we’re live in your state.
Ro’s also becoming a gateway into patient acquisition for primary care providers through Ribbon Health, and a test-case for the use of Pfizer’s Greenstone service, which provides certification that a generic drug is validated by one of the major pharmaceuticals.
The company’s $1.5 billion valuation is courtesy of a new $200 million investment from existing investors led by General Catalyst and including FirstMark Capital, Torch, SignalFire, TQ Ventures, Initialized Capital, 3L and BoxGroup. New first-time investor The Chernin Group also participated. In all, Ro has raised $376 million since it launched in 2017.
Digital medicine is assuming a central position in the healthcare world, with most consultations now occurring online. Reimbursement schemes for telemedicine have changed dramatically and investors see an opportunity to capitalize on these changes by aggressively backing the expansion plans of companies looking to bring digital healthcare directly to consumers.
That’s one of the reasons why Ro’s major competitor, Hims, is reported to be seeking access to public markets through its sale to a special purpose acquisition company for roughly $1 billion, according to Reuters.