FemTec Health’s Awesome Woman platform is a first direct-to-consumer subscription healthcare service … [+]
In February this year, FemTec Health – a women’s health and beauty sciences company, announced the launch of its Awesome Woman platform, the first direct-to-consumer subscription healthcare service for women and females. The platform offers science-based products like supplements, probiotics, vitamins and powders, diagnostic tests, plus unlimited telehealth services and a 24/7 pharmacy prescription service, direct to her door. Aimed at women from adolescence to menopause and beyond, Awesome Woman focuses on holistic healthcare including, sexual wellness, vaginal and urinary health, reproductive health, hormone balance as well as wellness and prevention. Awesome Woman will also become available through health plans, insurers, and large employers in the near future as companies look to reduce absenteeism, increase productivity and provide health services personalized to women’s needs.
To accelerate its growth, FemTec Health made several acquisitions before its official launch – including subscription beauty service, Birchbox, and Mira Beauty, the world’s first universal store and collaborative library for beauty. It also acquired Liquid Grids, a social marketing platform for the healthcare industry that has over 1.5 million members, to further the growth of its robust community of women. Awesome Woman will complement the Birchbox beauty offering by using data and technology to customize a full suite of healthcare products and services unique to every woman. The company’s exclusive partnership with online pharmacy company GeniusRx aims to provide Awesome Woman members access to on-demand, door-to-door medication delivery.
Dr. Kimberly Capone, Chief Scientific Officer at FemTec Health
“We intend to be the single destination for women’s health that unifies, coordinates, and creates a personal experience that is effective and meaningful,” Dr. Kimberly Capone, Chief Scientific Officer at FemTec Health, shared with me in an email.
Women As Consumers
Supporting women holistically on their journey to better health is long overdue. Very often women will feel failed by healthcare professionals, brands, employers, and even their partners. There are many reasons for this, starting with clinical trials that have not always adequately enrolled women or analyzed sex-specific differences in the data.
Women are also a key demographic group for online health because they control 80% of household spending and healthcare decisions (yet often go without healthcare coverage themselves), and they make up 54% of the individuals actively seeking health information online.
On top of that, according to the ‘Health e-People: The Online Consumer Experience’ report conducted by Institute for the Future and written for the California HealthCare Foundation, women are the primary healthcare decision-makers in most households and are most often the caregivers of ill family members. When it comes to e-commerce opportunities, more women than men perceive all types of online health information as important and more women than men buy books, health, medicine, and cosmetics online. The Federal Reserve estimates that women now control two-thirds of the nation’s wealth (in the U.S.), while McKinsey’s report estimates that women control a third of total U.S. household financial assets—more than $10 trillion. Globally, they control about $20 trillion in annual consumer spending.
All this brings us to the conclusion that women today have a greater purchasing power than ever, which is reflected in their autonomy over healthcare and lifestyle choices.
The products at Awesome Woman have a focus on the vaginal, gut, and skin microbiomes as they play … [+]
Filling The Gaps In The Healthcare System
Although it might seem that the rise of feminism and female empowerment has greatly influenced their position in various areas of our lives, one area still remains quite broken – women’s healthcare. It is built on the premise of a mass solution, not personalized to each individual woman’s needs at her specific life stage. This is particularly true across specialties like fertility, menopause, and menstruation as there is nowhere for a woman to go to find a truly holistic, continuum of care, including science-based consumer products, diagnostics, and healthcare services.
“What we have to realize is that many of the ‘solutions’ are borrowed from general medicine or men’s health, and a woman’s physiology is very different. The products and services and our approach to women’s health should also be unique. When you consider that women were not allowed in clinical trials until 1993 and 52% of women have felt dismissed by their doctor, something is clearly wrong. FemTec Health and Awesome Woman is our response to a situation that clearly needs to change,” explains Capone.
This is why FemTec Health decided to create an offer, as part of their Awesome Woman platform, its own line of products and services specifically to help women achieve optimal care across a continuum of health, wellness, and beauty. The products at Awesome Woman have a focus on the vaginal, gut, and skin microbiomes as they play important roles in women’s health, such as supporting vaginal and urinary health, digestion, skin health, and beyond. Its scientists have deep expertise in the microbiome and probiotic science which enables them to create effective, custom probiotic blends for women’s health benefits.
“We work in partnership with our extensive supplier network to source the most natural-source, potent, high quality, and clinically-tested ingredients that we formulate into our proprietary blends made specifically for women,” adds Capone.
For Capone and her team, it’s all about creating a loyal and engaged community of subscribers who sign up for a long-term journey with FemTec Health, through all life stages. Having the opportunity for two-way communication with their client base so that they can not only deliver products and services but learn from women about their health and wellness needs is essential (something all brands should have as a thesis, right?).
For each full-service subscription on the platform, FemTec Health will donate $2.50 to women’s … [+]
Charitable element is also super important to Awesome Woman’s team, and for each full-service subscription on the platform, FemTec Health will donate $2.50 to women’s causes.
Candace McDonald, Chief Impact Officer at FemTec Health
Monthly subscriptions at Awesome Woman include two options – one for $99/month and the basic one for $5/month. Under each package, consumers can expect to get a variety of perks and offerings, including unlimited telehealth visits and ongoing support from women’s health experts (with no waiting for any of the appointments), at-home tests like the vaginal microbiome test, monthly curated boxes, 24/7 pharmacy delivery services, wellness tools based on consumer’s preferences and health profiles, full access to world-renowned guided meditations, expert-led webinars, events, and education to calm the mind, increase focus and boost productivity, access to a premium line of consciously chosen, biologically efficacious supplements and probiotics, and much more.
“Celebrating the uniqueness of women and using the power of our collective voices to create change is imperative for us. We must recognize that our bodies are different, our biology is different, and we each have different healthcare needs. As a brand, we believe that we must say and do, therefore, we give each woman the choice with each purchase to support women’s cancer or menstrual equity through their purchase,” Candace McDonald, Chief Impact Officer at FemTec Health shares with me.
The Future Of Female Health
Investors, capital, and shareholders at FemTec Health include Unilever Ventures, e.Ventures, Viking Global, Trinity Capital, HellasMed, LLC (company principals) and Longmont Capital with more than $38M raised to date.
Since 2014, the femtech industry has attracted approximately $1 billion in funding, and women’s health has already developed into one of the biggest and most customer-oriented digital healthcare markets. Some of the most exciting areas of female health, that have long been overlooked and now are finally getting more recognition, include menopause, sexual health, and (in)fertility, and are all within the scope of FemTec Health’s offering as well.
“Key outcomes and goals for us as a company are to enable every woman on our platform to have access to better healthcare, whether it’s increased access to women’s health services 24/7, reduced number of providers and/or prescriptions per year through better diagnosis and education, and in general better preventive care and long term health outcomes. This really shouldn’t be a luxury,” concludes McDonald.