Hims & Hers Health (HIMS) saw a significant boost in its stock price on Wednesday, climbing 7.1% to reach 57.87, as the telehealth giant announced its new menopause care program. This announcement follows last month’s launch of their testosterone replacement therapy, highlighting the company’s strategy to diversify its offerings.
According to Leerink Partners analyst Michael Cherny, the introduction of menopause care is a natural evolution for the Hers brand, which specializes in women’s health. He anticipates this move will propel the Hers business to exceed $1 billion in revenues by 2026. Cherny noted that this expansion illustrates the capability of Hims & Hers to extend its services beyond weight loss, which has primarily defined its market presence.
The company is gearing up to provide tailored treatment plans for women experiencing perimenopause and menopause. These plans will include a range of hormone therapies, such as estradiol and progesterone, available in various formats including pills, patches, and creams. Despite looking toward growth in the menopause sector, Cherny pointed out that it is a competitive landscape. Factors like personalization, cost, and insurance coverage will play critical roles in the adoption and growth of these new offerings.
Hims & Hers currently boasts over half a million subscribers within its Hers line, which also includes services related to weight loss and hair treatment. The company is optimistic that its latest endeavor will not only broaden its market scope but also solidify its position in the burgeoning telehealth space, further contributing to its ambitious financial targets.
As the health industry continues to embrace telehealth innovations, Hims & Hers is well-positioned to capitalize on the growing demand for personalized healthcare solutions, making the future look promising for both the company and its subscribers.