Ro (company) explained

Ro
Type:Private
Industry:Health
Founded:2017
Hq Location City:New York, NY

Ro is an American telehealth company that diagnoses patients, and subsequently prescribes and delivers treatments.[1] The company is headquartered in New York City.[2]

History

Ro was launched as Roman in October 2017 by Zachariah Reitano, Saman Rahmanian, and Rob Schutz.[3] Reitano's personal experience with a heart condition, and his desire to recreate his father, a doctor, out of software, inspired him to co-found the company.[4] [5] [6] Ro raised $3.1 million in a seed funding round led by General Catalyst and launched with a telemedicine practice, in addition to a pharmacy, to distribute medications.[7] In September 2018, the company renamed itself Ro and expanded its treatment to additional pathologies like hair loss, cold sores, and premature ejaculation.[8] [9]

In 2018, Ro raised $88 million in a Series A funding round led by FirstMark Capital, and added Reddit Founder Alexis Ohanian as a board director.[10] In 2019, Ro expanded to offer services for women.[11] In January 2020, Ro partnered with Pfizer for the sourcing of Sildenafil.[12] In July 2020, Ro raised $200 million in a series C funding round.[13] In March 2021, Ro raised $500 million in a series D funding round led by General Catalyst, FirstMark Capital, and TQ Ventures, giving the company a $5 billion valuation.[14] Margo Giorgiadis, formerly the CEO of Ancestry.com, also joined Ro’s Board of Directors.[15]

In 2021, Ro acquired Modern Fertility and Kit.[16]

COVID-19 response

In March 2020, Ro launched free COVID-19 telehealth assessments.[17] Ro also partnered with Uber to give free COVID-19 assessments to all Uber drivers.[18] Uber’s Chief Legal Officer, Tony West, later joined Ro’s board in September 2020.[19] In March 2021, Ro partnered with the New York State Department of Health to launch an in-home COVID-19 vaccination program for seniors.[20] In January 2022, Ro was able to supply COVID-19 tests during a shortage while the SARS-CoV-2 Omicron variant was most prevalent.[21]

Obesity treatment

Ro began to treat obesity through supplying Gelesis100.[22] In January 2023, Ro expanded obesity treatment through GLP-1 receptor agonists through its Body Program.[23] [24] An ad campaign for Ro’s Body Program on the New York City Subway was criticized for being too "evocative".[25] After the medication gained FDA approval in 2023, Ro began prescribing Zepbound to medically-eligible patients through its Body Program.[26]

Platform

Ro patients fill out a dynamic online visit answering questions about their health, lifestyle, medical history, and symptoms. A physician then reviews the results and prescribes medication if appropriate. Medications are shipped directly to the patient's home.[27] Ro's platform is vertically integrated with labs and pharmacies in the United States.[28] [29]

Research

In October 2022, Ro reached an agreement with the National Institute on Aging to create a registry of patients for future Alzheimer's disease research and clinical trials.[30] Ro has published research on a variety of telehealth topics, including comparable rates of side effects found with treatment via asynchronous and synchronous virtual care.[31]

Acquisitions

In December 2020, the company acquired WorkPath, which sends phlebotomists into patient homes to draw blood for diagnostic tests.[14]

On May 19, 2021, the company announced that it had acquired women's reproductive health company Modern Fertility, in a deal reported to be over $225 million.[32]

On June 30, 2021, the company announced the acquisition of Kit, a startup offering at-home diagnostic tests, including finger prick blood tests and weight measurement tools.[33]

Sponsorships

Ro has been the presenting sponsor of the College Basketball Invitational tournament,[34] and an official sponsor of Major League Baseball.[35] Ro sponsored NASCAR Cup Series driver Ryan Newman's No. 6 Roush Fenway Racing car at the 2020 Coca-Cola 600.[36]

Notes and References

  1. News: Erectile pharmacy app Ro launches telehealth service for women. 2017-11-13. Metro US. 19 January 2018. en.
  2. News: DIGITAL HEALTH BRIEFING: Digital health funding to hit $7B in 2017 — Roman launches health platform with $3.1M — Under Armour drops HealthBox. Business Insider. 19 January 2018. en.
  3. News: NYC Startup Raised $3.1M to Raise Awareness for Men's Health. 2017-11-06. AlleyWatch. 19 January 2018. en-US.
  4. Web site: Murdoch . Cassie . New startup takes aim at erectile dysfunction, and they'll even mail your Viagra in a sleek little box . . en . October 31, 2017.
  5. Web site: Seabrook . John . The Promise and the Peril of Virtual Health Care . . June 22, 2020.
  6. News: Finally Putting Some Fun in Erectile Dysfunction. Schneier. Matthew. 2017-11-28. The New York Times. 19 January 2018. en-US. 0362-4331.
  7. News: Roman is a cloud pharmacy for erectile dysfunction. Constine. Josh. TechCrunch. 19 January 2018. en.
  8. Web site: Constine . Josh . iPharmacy Roman fights stigmas with premature ejaculation meds . . October 23, 2018.
  9. Web site: Roman moves beyond ED. Reitano. Zachariah. 2018-10-23. Medium. 2019-05-30.
  10. Web site: Constine . Josh . Roman is a cloud pharmacy for erectile dysfunction . . October 31, 2017.
  11. Web site: Lagorio-Chafkin . Christine . is 2-Year-Old Startup Raised $176 Million in Funding to Help Manage Your Most Embarrassing Health Issues . . April 18, 2019.
  12. Web site: Mukherjee . Sy . Telehealth startup Ro partners with Pfizer to give its ED business a boost . . January 24, 2020.
  13. Web site: Ro, a 3-year-old online health provider, just raised a new round that values it at $1.5 billion . cnbc.com . February 8, 2022.
  14. Web site: Digital Health Startup Ro Raised $500 Million At $5 Billion Valuation . forbes.com . February 8, 2022.
  15. Web site: Margo Georgiadis, Former CEO of Ancestry.com, Joins Ro’s Board of Directors . Femtech Insider . October 14, 2021.
  16. Web site: Gupta . Alisha Haridasani . Ro, a health care start-up, will acquire Modern Fertility . May 19, 2021.
  17. Web site: Weissman . Cale Guthrie . Telehealth DTC startup Ro is now offering coronavirus assessments . Modern Retail . en . March 6, 2020.
  18. Web site: Kerr . Dara . As more Uber drivers get COVID-19, company offers free virtual health screenings . . en . April 30, 2020.
  19. Web site: Kokalitcheva . Kia . Uber legal chief joins board of health care startup Ro . . September 10, 2020.
  20. Web site: Kerr . Dara . As more Uber drivers get COVID-19, company offers free virtual health screenings . . en . April 30, 2020.
  21. Web site: Krueger . Alyson . Want a Covid Test With Your Viagra? . . January 1, 2022.
  22. Web site: Shieber . Jonathan . Ro makes the weight loss product Plenity commercially available to everyone in the US . . October 1, 2020.
  23. Web site: Collins . Barbara . New weight loss drugs trending with billionaires and celebrities are about to enter more American homes . . en . January 20, 2023.
  24. Web site: Mascarenhas . Natasha . Ro buys Kit, a 17-month-old startup that offers at-home health testing . . June 30, 2021.
  25. Web site: Herz . Jane . Wegovy, Ozempic ads slammed as too ‘evocative’ in NYC subway . . April 4, 2023.
  26. Web site: Yeung . Ngai . Digital health startup Ro now prescribes recently approved weight loss drug Zepbound . Endpoints News . December 13, 2023.
  27. Web site: A Checkup with Ro and the Benefits of Telemedicine . . January 10, 2020.
  28. Web site: Jennings . Katie . Digital Health Startup Ro Raised $500 Million At $5 Billion Valuation . . en . March 22, 2021.
  29. Web site: McCormick . Emily . Telehealth is going to 'become the default' for patients: Ro CEO . Yahoo Finance . May 22, 2020.
  30. Web site: Schwartz . Noah . Ro partners with National Institute on Aging to diversify clinical trial registration . . October 7, 2022.
  31. ATA2021ATA2021 Annual Conference & Expo (Virtual) Tuesdays and Thursdays in June 2021 . Telemedicine and e-Health . 2021 . 27 . 6 . A–1–A-21 . 10.1089/tmj.2021.29056.abstracts.
  32. Web site: Health care startup Ro acquires Modern Fertility in a deal signaling growth in women's health sector . fortune.com . February 8, 2022.
  33. Web site: Ro buys Kit . techcrunch.com . February 8, 2022.
  34. Web site: 2019 Roman CBI Field Announced. 18 March 2019.
  35. Web site: MLB announces efforts to raise awareness for prostate cancer, including new multi-year partnership with Roman . mlb.com . February 8, 2022.
  36. News: Roman to Power Ryan Newman & the No. 6 Team at Prestigious Coke 600 Sunday, May 24. Roush Fenway Racing. May 20, 2020. July 17, 2022.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Ro (company)".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.