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Remedy Meds, a consumer health and pharmacy platform, has announced plans to acquire telemedicine company Thirty Madison for $500 million.
The combined companies will join Remedy Meds' weight loss offerings with Thirty Madison's women's health, men's hair loss and migraine products.
The Remedy Meds program includes a prescription to GLP-1 medication, video calls with clinicians and a four-week supply of drugs every month.
Additionally, the company offers an all-inclusive model.
Thirty Madison's Nurx specializes in comprehensive care for women's dermatology, reproductive health and sexual health; Cove focuses on treating migraines; and Keeps targets men's hair loss.
"By bringing together Thirty Madison's trusted brands with Remedy Med's acquisition engine, retention system and pharmacy infrastructure, we will broaden access, shorten time-to-treatment and maintain the financial discipline that has defined our growth," Haris Memon, founder and CEO of Remedy Meds, said in a statement.
THE LARGER TREND
In 2024, Thirty Madison partnered with Talkspace to bring mental health offerings to Thirty Madison's Nurx and Cove users and allow Talkspace users to access migraine treatment and women's healthcare. Talkspace serves as the therapy partner for Nurx and Cove.
Thirty Madison scored $140 million in Series C funding in 2021. The company used the funds to expand its specialist-level care, including launching new brands focused on a variety of conditions.
In 2023, Thirty Madison acquired the assets of online birth control pharmacy The Pill Club following the company's bankruptcy in April. New York-based Thirty Madison purchased over 100,000 patient files from the bankrupt company for $32.3 million.
In 2022, Nurx and Thirty Madison entered into a definitive agreement to merge into a combined company under the Thirty Madison brand.
In 2020, Thirty Madison closed a $47 million Series B funding round with participation from Polaris Partners and Johnson and Johnson Innovation, alongside existing investors Maveron and Northzone.
Other companies in this space include Hims & Hers, which in June had its contract terminated with Novo Nordisk due to concerns about Hims & Hers' "illegal mass compounding and deceptive marketing."
That same month, Hims & Hers acquired telemedicine provider Zava, which allowed it to expand into the UK and launch in Germany, France and Ireland.
