SAN FRANCISCO--(BUSINESS WIRE)--Hims & Hers Health, Inc. (“Hims & Hers” or the “Company”) (NYSE: HIMS), the leading health and wellness platform, today introduced MedMatch, a technology designed to transform healthcare by giving providers a more intelligent and informed way to deliver personalized care to patients with more effective and precise treatments and medications.
Currently in Beta, MedMatch deploys artificial intelligence and machine learning against the expansive dataset at the core of the Hims & Hers platform. Leveraging millions of anonymized data points from millions of customers, MedMatch models can identify treatments in real-time that may be best suited for a patient’s unique needs. The company is initially deploying MedMatch for customers seeking support for anxiety and depression on the Hims & Hers platform.
The U.S. is experiencing a mental health crisis. Many people avoid seeking treatment due to stigma and lack of education for psychiatric disorders. When treatment is sought, there is a shortage of mental health professionals, creating an unacceptable gap between need and access. Furthermore, when patients do receive treatment, it can require multiple visits incurring time and financial burdens, and the treatment is typically based on the singular provider’s experience.
MedMatch is being developed to help providers on the platform identify the optimal treatment for a particular person, which can include the most appropriate treatment formulation to dosage strength to form factor. Trained on anonymized historical clinical visits, demographics, treatment types, and patient outcomes, MedMatch is being built to have the unique ability to recommend clinical decisions and treatments supported and informed by the collective knowledge of thousands of providers and millions of data points. We believe connecting the patient with the right personalized treatment will result in better clinical outcomes, leading to long-term patient happiness.
In this initial Beta phase, MedMatch is being evaluated on independent metrics including remission rates once treatment begins, time to remission, and patient satisfaction.
“We believe that key to our mission is building a foundation of innovative technologies that empower providers to deliver a level of clinical care unmatched by the traditional system,” said Co-Founder and CEO Andrew Dudum. “At the heart of our work is patient trust – trust in their provider, in their care plan, and in their treatment to work. MedMatch is an incredibly exciting step in transforming healthcare to truly serve the patient, and ultimately, give the patient confidence in their care.”
As development of the MedMatch model continues, we plan to add more robust capabilities and expand the model to additional health categories on the Hims & Hers platform to progress towards the ability to deliver this unprecedented standard of personalized care to patients across a range of healthcare conditions. Stay tuned for further developments and updates of this exciting new technology in the months to come.
Learn more about MedMatch here.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believe,” “estimate,” “anticipate,” “expect,” “assume,” “imply,” “intend,” “plan,” “may,” “will,” “potential,” “project,” “predict,” “continue,” “could,” or “should,” or, in each case, their plural, their negative or other variations or comparable terminology. There can be no assurance that actual results will not materially differ from expectations. Such statements include, but are not limited to, any statements relating to our financial outlook and guidance, including our mission to drive top-line growth and profitability and our ability to attain our long-term financial targets; our expected future financial and business performance, including with respect to the Hims & Hers platform, our marketing campaigns, investments in innovation, and our infrastructure, and the underlying assumptions with respect to the foregoing; statements relating to events and trends relevant to us, including with respect to our financial condition, results of operations, short- and long-term business operations, objectives, and financial needs; expectations regarding our mobile applications, market acceptance, user experience, customer retention, brand development, our ability to invest and generate a return on any such investment, customer acquisition costs, operating efficiencies and leverage (including our fulfillment capabilities), the effect of any pricing decisions, changes in our product or offering mix, the timing and market acceptance of any new products or offerings, the success of our business model, our market opportunity, our ability to scale our business, the growth of certain of our categories, our ability to innovate on and expand the scope of our offerings and experiences, our ability to reinvest into the customer experience, and our ability to comply with the extensive, complex and evolving regulatory requirements applicable to our business, including without limitation state and federal healthcare, privacy and consumer protection laws and regulations. These statements are based on management’s current expectations, but actual results may differ materially due to various factors.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the “Risk Factors” section of each of our most recently filed Quarterly Report on Form 10-Q, our most recently filed Annual Report on Form 10-K, and any of our subsequent filings with the Securities and Exchange Commission (the “Commission”).
Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and developments in the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in reports we have filed or will file with the Commission, including our most recently filed Annual Report on Form 10-K, our most recently filed Quarterly Report on Form 10-Q, and any of our subsequent filings with the Commission. In addition, even if our results of operations, financial condition and liquidity, and developments in the industry in which we operate are consistent with the forward-looking statements contained in such reports, those results or developments may not be indicative of results or developments in subsequent periods.
About Hims & Hers Health, Inc.
Hims & Hers is the leading health and wellness platform on a mission to help the world feel great through the power of better health.
We believe how you feel in your body and mind transforms how you show up in life. That’s why we’re building a future where nothing stands in the way of harnessing this power. Hims & Hers normalizes health & wellness challenges—and innovates on their solutions—to make feeling happy and healthy easy to achieve. No two people are the same, so the Company provides access to personalized care designed for results.
For more information, please visit www.hims.com and www.forhers.com.
