Hims & Hers is quietly disrupting the antiquated US Healthcare system with its digital platform.
By Dana Donovick | Co-Founder Disrupting & ChargeTalk
What is Hims & Hers?
Hims & Hers is a telehealth & telemedicine company that sells prescription and over-the-counter drugs online, as well as personal care products. The company is known for destigmatizing sexual health, hair loss/care, mental health, and dermatology, all of which are issues that people often feel embarrassed to discuss in person, hence most conditions go untreated. The company’s digital, consumer-facing healthcare platform allows patients to seek care, meet with healthcare professionals through virtual appointments, and then pay to receive prescriptions and treatment products as part of an affordable, easy-to-use subscription service.
Hims & Hers went public via SPAC merger with Oaktree Capital in January 2021 at a $1.6B valuation.
Notable Investors and Board Members
Notable Investors and Board Members include Peter Thiel, Mark Andressen, Alex Rodriguez, Jennifer Lopez, and VC giant and owner of the NY Mets, Steve Cohen.
US Healthcare Market saw $3.8T in spending in 2019.
US healthcare has been a snail in regards to adopting innovative solutions to patient care.
Hims & Hers believes their immediate addressable market totals $65B, a large sandbox for them to grow their expected 2021 revenue of approximately $250M
Using the company's full 2021 revenue guidance, the stock is currently at a price-to-sales ratio of just 6 and a market cap of $1.5B. For a comparative reference, Teladoc, the telehealth leader trades at a P/S ratio of 11.
Hims & Hers needs to continue proving itself to the market, despite the exceptional Q2 earnings that show the company performing very well. The company is growing rapidly, with new products and services regularly added. This is definitely a must-watch stock.
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