By JESSICA DaMASSA, WTF HEALTH
Thirty Madison and Nurx are merging and here’s what Steve Gutentag, CEO of Thirty Madison and the soon-to-be-combined entity, is saying about the deal!
This is a merger of two well-funded, direct-to-consumer, virtual-care-plus-pharmacy startups that deliver specialty and expert care and prescription drugs to a combined 750,000 active patients, with or without insurance. To-date, Nurx has raised a total $110 million, and Thirty Madison closed a Series C in June 2021 that brought their total funding to $210 million with a then-valuation of over $1 billion.
Thirty Madison currently deals with migraines, allergies, GI issues, and men’s hair loss, while Nurx (once referred to as “the Uber of birth control”) brings a predominantly women’s health-focused portfolio of chronic condition care focusing on sexual health, contraception, STIs, and dermatology.
So, what makes sense about this combination? And, what’s the big-picture plan for differentiation against rivals like Hims&Hers or Ro’s Rory or Roman brands – OR, the myriad virtual-first primary care clinics that have popped up in-person and online and offer more traditional routes to care for these same such conditions?
Steve talks extensively about the chronic care focus of both businesses, how each is providing access to specialists and experts patients wouldn’t otherwise be able to see, and how both companies’ tech platforms are built to scale along with the addition of new conditions. Still…why bring together care for this assortment of conditions instead of, say, either Thirty Madison or Nurx looking to find a merger partner who could expand their platform into high-demand chronic care areas like diabetes management, heart health, or mental health care? Is that what’s next, after the paperwork on this merger is signed? Tune in for more on Steve’s plans for the future of the NEW Thirty Madison and how “longitudinal care models” factor into its strategy to win over more patients AND their employers and payers.