Hims & Hers to Shut Down Apostrophe Dermatology Business
Hims & Hers Health would discontinue its personalized acne treatments dermatology business, Apostrophe, to "simplify its (company's) dermatology products and operations into one seamless experience," the company said on Friday. The telehealth company acquired Apostrophe in 2021 but now plans to continue providing other dermatology treatments. Hims & Hers' stock price rose 4.5% following the announcement, as shares closed at $35.95 on Friday.
- This strategic decision highlights the evolving nature of the telehealth industry, where companies are continually reassessing their offerings and focus areas to maintain competitiveness in a rapidly changing landscape.
- What will be the impact on the market for personalized acne treatments, now that Hims & Hers is scaling back its investment in this area?