THE WHAT? Dr Kimon Angelides has announced the launch of a new venture, FemTec Health, which is described as a women’s health sciences and beauty company using technology and data to transform the health care experience for women.
THE DETAILS The company boasts some 10 million members already thanks to acquisitions of the likes of Birchbox, Liquid Grids and Mira Beauty. Terms of the deals were not disclosed.
Birchbox will be relaunched later this year with a new focus on curated personalized skin and health care products using the patent-pending BiomeAI platform, which uses AI and deep machine learning to translate consumer genetic, microbiome and biometric data into the delivery of holistic healthcare, personalized for each user.
“I have always believed in the power of women as a community, and I believe this is a natural step in the evolution of Birchbox,” said Katia Beauchamp, Founder of Birchbox. “Eleven years ago, we were compelled by an ability to build deep customer relationships month after month. FemTec’s vision for the future of women’s healthcare was inspirational to me and I could see the opportunity for the thousands of women in the Birchbox community to extend beyond consumer beauty products to a more holistic health and wellness offering.”
The leadership team is said to have a ‘deep bench’ of women including Johnson & Johnson veteran Dr Kimberly Capone as Chief Scientific Officer and former Cigna employee Dr Laura Clapper as Chief Operating Officer.
The company has raised some US$38 million to date with Unilever Ventures, Shiseido, Viking Global and Trinity Capital among its named investors.
THE WHY? Dr Angelides, Executive Chairman and Interim CEO, explains, “Our first acquisitions within women’s health and beauty are key to our mission to revolutionize the women’s healthcare and beauty industry. Women deserve a comprehensive, all-encompassing model designed specifically for them. The starting point is to really understand a woman’s healthcare needs and then apply smart technology like AI and predictive analytics to translate the data into actionable outcomes.”