Florida-based women’s health company Unified Women’s Healthcare announced Wednesday that it acquired Seattle startup Gennev for an undisclosed sum.
Gennev, which launched as Genneve in 2016, provides telehealth services and products for women going through perimenopause and menopause. Gennev will continue operating as its own health unit within the larger company.
“We get to take the mission that we’ve been doing as a singular company and just amplify it within Unified Women’s health platform,” Gennev founder and CEO Jill Angelo said in an interview. The acquisition “will enable us to scale and drive reach much faster than continuing to raise more capital on our own,” she added.
Gennev raised $8 million from investors and has 10 employees, plus more than a dozen contract obstetricians and gynecologists.
By joining Unified Women’s Healthcare, “we have the largest network of menopause specialists in the United States,” Angelo said.
Founded in 2009, Unified Women’s Healthcare operates, affiliates, and invests in women’s healthcare companies, supporting more than 2,500 providers across 19 markets in North America. It runs the largest OB-GYN physician practice management platform in the U.S., as well as companies including fertility treatment provider CCRM Fertility and Lucina, a maternity analytics platform.
Before creating her startup, Angelo spent more than 15 years at Microsoft in marketing and product roles. Gennev originally focused on sexual wellness and lubricants.
In early 2019, Gennev launched its telehealth services, aiming to serve the four-out-of-five women who do not receive healthcare specific to menopause. All women will go through menopause and the hormonal transition can include hot-flashes, disrupted sleep, anxiety and other health impacts.
The company currently sells its services and products directly to consumers, and is exploring working with insurance companies to provide care in their networks.
Angelo said the acquisition represents the first exit for a company addressing menopause. She hopes that it helps validate the idea that there is money to be made in women’s health, and she predicts that there will be more acquisitions to follow. Those mergers will help women, she said, because they won’t need to navigate across a variety of specialties.
“We can serve women better by providing them care across their continuum, no matter where they’re at in their reproductive cycle in life, or their phase of life,” she said. “I think it’s only going to be beneficial.”
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