Ro (company)

Last updated
Roman Health Ventures Inc.
Ro
Company type Private
IndustryHealth
Founded2017;8 years ago (2017)
Founder
  • Zachariah Reitano (CEO)
  • Saman Rahmanian (Chief Product Officer)
  • Rob Schutz (Chief Growth Officer)
Headquarters
New York City
Website www.ro.co

Roman Health Ventures Inc., doing business as 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 Georgiadis, 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]

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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