Ro (company)

Last updated
Ro
Company typePrivate
IndustryHealth
Founded2017
Founder
  • Zachariah Reitano (CEO)
  • Saman Rahmanian (Chief Product Officer)
  • Rob Schutz (Chief Growth Officer)
Headquarters
New York, NY
Website www.ro.co

Ro is an American telehealth company that diagnoses patients, and subsequently prescribes and delivers treatments and ongoing care. [1] [2] The company is headquartered in New York City. [3] Ro has nationwide telehealth, labs, and pharmacy services across the continental United States. [4] [5] Ro has been used by at least one patient in every county in the United States and has been utilized in 98% of primary care deserts. [6]

Contents

History

Ro was launched as Roman in October 2017 by Zachariah Reitano, Saman Rahmanian, and Rob Schutz. [7] 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. [8] [9] [10] 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. [11] In September 2018, the company renamed itself Ro and expanded its treatment to additional pathologies like hair loss, cold sores, and premature ejaculation. [12] [13]

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. [14] In 2019, Ro expanded to offer services for women. [15] In January 2020, Ro partnered with Pfizer for the sourcing of Sildenafil. [16] In July 2020, Ro raised $200 million in a series C funding round. [17] 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. [18] Margo Giorgiadis, formerly the CEO of Ancestry.com, also joined Ro’s Board of Directors. [19]

In 2021, Ro acquired Modern Fertility and Kit. [20]

In 2024, Ro launched two new compounded erectile dysfunction medications, Daily Rise gummies and Sparks. [21] [22] [23]

COVID-19 response

In March 2020, Ro launched free COVID-19 telehealth assessments. [24] Ro also partnered with Uber to give free COVID-19 assessments to all Uber drivers. [25] Uber’s Chief Legal Officer, Tony West, later joined Ro’s board in September 2020. [26] In March 2021, Ro partnered with the New York State Department of Health to launch an in-home COVID-19 vaccination program for seniors. [27] In January 2022, Ro was able to supply COVID-19 tests during a shortage while the SARS-CoV-2 Omicron variant was most prevalent. [28]

Obesity treatment

Ro began to treat obesity through supplying Gelesis100. [29] In January 2023, Ro expanded obesity treatment through GLP-1 receptor agonists through its Body Program. [30] [31] An ad campaign for Ro’s Body Program on the New York City Subway was criticized for being too "evocative". [32] After the medication gained FDA approval in 2023, Ro began prescribing Zepbound to medically-eligible patients through its Body Program. [33]

In May 2024, in response to continual GLP-1 supply shortages, Ro launched a GLP-1 Supply Tracker to help people crowdsource information about medication supply and availability, receiving tens of thousands of reports from across the country. [34] Later that year, the company also launched a free tool for anyone to learn more about their insurance coverage of GLP-1 receptor agonists. [34]

In December of 2024, Ro announced that they were working with pharmaceutical company Eli Lilly to offer Zepbound vials via the platform through an integration with LillyDirect. [35]

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. [36] Ro's platform is vertically integrated with labs and pharmacies in the United States. [37] [38]

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. [39] 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. [40]

Acquisitions

In December 2020, the company acquired WorkPath, which sends phlebotomists into patient homes to draw blood for diagnostic tests. [18]

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. [41]

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. [42]

Sponsorships

Ro has been the presenting sponsor of the College Basketball Invitational tournament, [43] and an official sponsor of Major League Baseball. [44] Ro sponsored NASCAR Cup Series driver Ryan Newman's No. 6 Roush Fenway Racing car at the 2020 Coca-Cola 600. [45]

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References

  1. ↑ "Erectile pharmacy app Ro launches telehealth service for women". Metro US. 2017-11-13. Retrieved 19 January 2018.
  2. ↑ Rosenberg, Lizzy (September 20, 2024). "Ro Offers Telehealth Including Weight-Loss Medications". Woman's World .
  3. ↑ "DIGITAL HEALTH BRIEFING: Digital health funding to hit $7B in 2017 — Roman launches health platform with $3.1M — Under Armour drops HealthBox". Business Insider. Retrieved 19 January 2018.
  4. ↑ McCormick, Emily (May 22, 2020). "Telehealth is going to 'become the default' for patients: Ro CEO".
  5. ↑ Yeung, Ngai (December 13, 2023). "Digital health startup Ro now prescribes recently approved weight loss drug Zepbound". Endpoints News.
  6. ↑ Landi, Heather (March 23, 2021). "Ro clinches $500M series D to scale telehealth, online pharmacy, in-home care services". Fierce.
  7. ↑ "NYC Startup Raised $3.1M to Raise Awareness for Men's Health". AlleyWatch. 2017-11-06. Retrieved 19 January 2018.
  8. ↑ Murdoch, Cassie (October 31, 2017). "New startup takes aim at erectile dysfunction, and they'll even mail your Viagra in a sleek little box". Mashable.
  9. ↑ Seabrook, John (June 22, 2020). "The Promise and the Peril of Virtual Health Care". The New Yorker.
  10. ↑ Schneier, Matthew (2017-11-28). "Finally Putting Some Fun in Erectile Dysfunction". The New York Times. ISSN   0362-4331 . Retrieved 19 January 2018.
  11. ↑ Constine, Josh. "Roman is a cloud pharmacy for erectile dysfunction". TechCrunch. Retrieved 19 January 2018.
  12. ↑ Constine, Josh (October 23, 2018). "iPharmacy Roman fights stigmas with premature ejaculation meds". TechCrunch.
  13. ↑ Reitano, Zachariah (2018-10-23). "Roman moves beyond ED". Medium. Retrieved 2019-05-30.
  14. ↑ Constine, Josh (October 31, 2017). "Roman is a cloud pharmacy for erectile dysfunction". TechCrunch.
  15. ↑ Lagorio-Chafkin, Christine (April 18, 2019). "is 2-Year-Old Startup Raised $176 Million in Funding to Help Manage Your Most Embarrassing Health Issues". Inc.
  16. ↑ Mukherjee, Sy (January 24, 2020). "Telehealth startup Ro partners with Pfizer to give its ED business a boost". Fortune.
  17. ↑ "Ro, a 3-year-old online health provider, just raised a new round that values it at $1.5 billion". cnbc.com. Retrieved February 8, 2022.
  18. 1 2 "Digital Health Startup Ro Raised $500 Million At $5 Billion Valuation". forbes.com. Retrieved February 8, 2022.
  19. ↑ "Margo Georgiadis, Former CEO of Ancestry.com, Joins Ro's Board of Directors". Femtech Insider. October 14, 2021.
  20. ↑ Gupta, Alisha Haridasani (May 19, 2021). "Ro, a health care start-up, will acquire Modern Fertility".
  21. ↑ Zane, Zachary (July 12, 2024). "I Tried Erectile Dysfunction Gummies. It Completely Transformed My Sex Life". Men's Health .
  22. ↑ Gupta, Shalene (June 4, 2024). "This prescription gummy was designed to treat erectile dysfunction". Fast Company .
  23. ↑ Koster, Kyle (September 12, 2024). "Shannon Sharpe Admits He Wasn't Hacked, Addresses NSFW Instagram Live Video". Sports Illustrated .
  24. ↑ Weissman, Cale Guthrie (March 6, 2020). "Telehealth DTC startup Ro is now offering coronavirus assessments". Modern Retail.
  25. ↑ Kerr, Dara (April 30, 2020). "As more Uber drivers get COVID-19, company offers free virtual health screenings". CNET.
  26. ↑ Kokalitcheva, Kia (September 10, 2020). "Uber legal chief joins board of health care startup Ro". Axios.
  27. ↑ Kerr, Dara (April 30, 2020). "As more Uber drivers get COVID-19, company offers free virtual health screenings". CNET.
  28. ↑ Krueger, Alyson (January 1, 2022). "Want a Covid Test With Your Viagra?". The New York Times.
  29. ↑ Shieber, Jonathan (October 1, 2020). "Ro makes the weight loss product Plenity commercially available to everyone in the US". TechCrunch.
  30. ↑ Collins, Barbara (January 20, 2023). "New weight loss drugs trending with billionaires and celebrities are about to enter more American homes". CNBC.
  31. ↑ Mascarenhas, Natasha (June 30, 2021). "Ro buys Kit, a 17-month-old startup that offers at-home health testing". TechCrunch.
  32. ↑ Herz, Jane (April 4, 2023). "Wegovy, Ozempic ads slammed as too 'evocative' in NYC subway". New York Post.
  33. ↑ Yeung, Ngai (December 13, 2023). "Digital health startup Ro now prescribes recently approved weight loss drug Zepbound". Endpoints News.
  34. 1 2 Constantino, Ashley Capoot,Annika Kim (August 13, 2024). "Digital health company Ro launches GLP-1 insurance-coverage checker to help patients navigate costs". CNBC.{{cite web}}: CS1 maint: multiple names: authors list (link)
  35. ↑ Muller, Madison (December 11, 2024). "Lilly Is Launching a Lower-Cost Zepbound on Telehealth Site Ro". Bloomberg News .
  36. ↑ "A Checkup with Ro and the Benefits of Telemedicine". Bloomberg L.P. January 10, 2020.
  37. ↑ Jennings, Katie (March 22, 2021). "Digital Health Startup Ro Raised $500 Million At $5 Billion Valuation". Forbes.
  38. ↑ McCormick, Emily (May 22, 2020). "Telehealth is going to 'become the default' for patients: Ro CEO". Yahoo Finance.
  39. ↑ Schwartz, Noah (October 7, 2022). "Ro partners with National Institute on Aging to diversify clinical trial registration". Becker's Hospital Review.
  40. ↑ "ATA2021ATA2021 Annual Conference & Expo (Virtual) Tuesdays and Thursdays in June 2021". Telemedicine and e-Health. 27 (6): A–1–A-21. 2021. doi:10.1089/tmj.2021.29056.abstracts.
  41. ↑ "Health care startup Ro acquires Modern Fertility in a deal signaling growth in women's health sector". fortune.com. Retrieved February 8, 2022.
  42. ↑ "Ro buys Kit". techcrunch.com. Retrieved February 8, 2022.
  43. ↑ "2019 Roman CBI Field Announced". 18 March 2019.
  44. ↑ "MLB announces efforts to raise awareness for prostate cancer, including new multi-year partnership with Roman". mlb.com. Retrieved February 8, 2022.
  45. ↑ "Roman to Power Ryan Newman & the No. 6 Team at Prestigious Coke 600 Sunday, May 24". Roush Fenway Racing . May 20, 2020. Retrieved July 17, 2022.
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