Ro (company)

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

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]

References

  1. ^ "Erectile pharmacy app Ro launches telehealth service for women". Metro US. 2017-11-13. Retrieved 19 January 2018.
  2. ^ "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.
  3. ^ "NYC Startup Raised $3.1M to Raise Awareness for Men's Health". AlleyWatch. 2017-11-06. Retrieved 19 January 2018.
  4. ^ 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.
  5. ^ Seabrook, John (June 22, 2020). "The Promise and the Peril of Virtual Health Care". The New Yorker.
  6. ^ Schneier, Matthew (2017-11-28). "Finally Putting Some Fun in Erectile Dysfunction". The New York Times. ISSN 0362-4331. Retrieved 19 January 2018.
  7. ^ Constine, Josh. "Roman is a cloud pharmacy for erectile dysfunction". TechCrunch. Retrieved 19 January 2018.
  8. ^ Constine, Josh (October 23, 2018). "iPharmacy Roman fights stigmas with premature ejaculation meds". TechCrunch.
  9. ^ Reitano, Zachariah (2018-10-23). "Roman moves beyond ED". Medium. Retrieved 2019-05-30.
  10. ^ Constine, Josh (October 31, 2017). "Roman is a cloud pharmacy for erectile dysfunction". TechCrunch.
  11. ^ 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.
  12. ^ Mukherjee, Sy (January 24, 2020). "Telehealth startup Ro partners with Pfizer to give its ED business a boost". Fortune.
  13. ^ "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.
  14. ^ a b "Digital Health Startup Ro Raised $500 Million At $5 Billion Valuation". forbes.com. Retrieved February 8, 2022.
  15. ^ "Margo Georgiadis, Former CEO of Ancestry.com, Joins Ro's Board of Directors". Femtech Insider. October 14, 2021.
  16. ^ Gupta, Alisha Haridasani (May 19, 2021). "Ro, a health care start-up, will acquire Modern Fertility".
  17. ^ Weissman, Cale Guthrie (March 6, 2020). "Telehealth DTC startup Ro is now offering coronavirus assessments". Modern Retail.
  18. ^ Kerr, Dara (April 30, 2020). "As more Uber drivers get COVID-19, company offers free virtual health screenings". CNET.
  19. ^ Kokalitcheva, Kia (September 10, 2020). "Uber legal chief joins board of health care startup Ro". Axios.
  20. ^ Kerr, Dara (April 30, 2020). "As more Uber drivers get COVID-19, company offers free virtual health screenings". CNET.
  21. ^ Krueger, Alyson (January 1, 2022). "Want a Covid Test With Your Viagra?". The New York Times.
  22. ^ Shieber, Jonathan (October 1, 2020). "Ro makes the weight loss product Plenity commercially available to everyone in the US". TechCrunch.
  23. ^ Collins, Barbara (January 20, 2023). "New weight loss drugs trending with billionaires and celebrities are about to enter more American homes". CNBC.
  24. ^ Mascarenhas, Natasha (June 30, 2021). "Ro buys Kit, a 17-month-old startup that offers at-home health testing". TechCrunch.
  25. ^ Herz, Jane (April 4, 2023). "Wegovy, Ozempic ads slammed as too 'evocative' in NYC subway". New York Post.
  26. ^ Yeung, Ngai (December 13, 2023). "Digital health startup Ro now prescribes recently approved weight loss drug Zepbound". Endpoints News.
  27. ^ "A Checkup with Ro and the Benefits of Telemedicine". Bloomberg L.P. January 10, 2020.
  28. ^ Jennings, Katie (March 22, 2021). "Digital Health Startup Ro Raised $500 Million At $5 Billion Valuation". Forbes.
  29. ^ McCormick, Emily (May 22, 2020). "Telehealth is going to 'become the default' for patients: Ro CEO". Yahoo Finance.
  30. ^ Schwartz, Noah (October 7, 2022). "Ro partners with National Institute on Aging to diversify clinical trial registration". Becker's Hospital Review.
  31. ^ "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.
  32. ^ "Health care startup Ro acquires Modern Fertility in a deal signaling growth in women's health sector". fortune.com. Retrieved February 8, 2022.
  33. ^ "Ro buys Kit". techcrunch.com. Retrieved February 8, 2022.
  34. ^ "2019 Roman CBI Field Announced". 18 March 2019.
  35. ^ "MLB announces efforts to raise awareness for prostate cancer, including new multi-year partnership with Roman". mlb.com. Retrieved February 8, 2022.
  36. ^ "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.