Wed. Jun 7th, 2023

Hims & Hers surges, partners with ChristianaCare

Hims & Hers, a San Francisco-based direct-to-consumer telehealth company, generated $144.8 million in revenue in the third quarter of 2021. The company added 170,000 new subscribers, bringing the total subscriber count to 991,000. It expects to achieve profitability by the end of this year and increased year-end revenue guidance.

The company also said it was partnering with ChristianaCare, a health system across the mid-Atlantic region. The partnership allows medical providers on the Hims & Hers platform to connect patients with ChristianaCare’s Center for Virtual Health and its primary and specialty care provider network. These developments helped boost the stock 43%, going from trading at $4.13 per share on Monday to $6.15 per share at the end of business Thursday.

Talkspace names new CEO, posts loss

Talkspace, a New York City-based online behavioral company, named Dr. Jon Cohen as its new CEO. Cohen is replacing interim CEO Doug Braunstein, who will continue to serve as board chairman. Cohen was most recently CEO of BioReference Laboratories, one of the nation’s four largest commercial laboratories.

The company posted a $18 million net loss in the third quarter of 2022 and $61 million overall for the year. It has begun to switch to an enterprise business model selling to employers and health plans and away from its direct-to-consumer model, which saw a 36% reduction in active members.

This story first appeared in Digital Health Business & Technology.

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