THE WHAT? FemTec Health has announced the sale of its Birchbox assets to Retention Brands. The sale took the form of an open bid process and the Birchbox assets were purchased by Retention Brands through an assignment for the benefit of creditors.

THE DETAILS Awesome Health acquired the remaining assets from FemTec Health and Longmont Acquisition Corporation—Mira AI, Liquid Grids, Nutrimedy, Awesome Woman, and AvaScience-FMTC GmbH.

THE WHY? Early this year as part of its strategic tightening around core healthcare businesses, FemTec Health engaged a national financial consulting firm to advise and explore possibilities for the sale of some of its non-core and underperforming assets. The sale was a result of this process.