Women reportedly spend over a third of their lives in perimenopause or menopause, with over 1.2 billion women globally expected to be in these life stages by 2030. Going forward, 85% of women will experience menopausal symptoms that can negatively impact their productivity and quality of life, yet 75% of them do not receive any treatment.
This year, President Biden signed an Executive Order aimed at advancing women’s health research and innovation, with a specific focus on menopause, and a groundswell of corporate employers have added menopause benefits. US-based Midi Health addresses these unmet needs with its women-focused virtual care clinic.
Ambitious growth plans
Recently, Midi Health closed its Series B round raising $60 million. With this, the total funding raised by the company accounts for $100 million. The investment was led by Emerson Collective and GV Google Ventures, which invested in StatusPRO and Nimbus Therapeutics. Other participants in the round include Memorial Hermann, SemperVirens, Felicis, Icon Ventures, Black Angel Group, Gingerbread Capital, Able Partners, G9, and Operator Collective. This follows the $25 million investment it raised back in 2023.
They join a syndicate of female-led investors, including F7, Steel Sky Ventures, Avestria, Muse Capital, 1843 Capital, Anne Wojcicki, Susan Wojcicki, and K50 Ventures.
The funding will allow Midi to expand insurance coverage (already established nationwide), hire and upskill an additional 150 clinicians by the end of the year, diversify service lines, amplify the conversation around midlife women’s healthcare, and scale to care for 1 million+ women per year by 2029.
Women-centric virtual clinic
Midi Health was founded by Joanna Strober and Sharon Meers in 2021. With treatment protocols created by world-class medical experts in perimenopause and menopause, delivered by clinicians trained in women’s midlife health, Midi Health provides patients with personalised care plans that include hormonal and non-hormonal medications, supplements, lifestyle coaching, and more. All services are covered by insurance, and conveniently accessible through telehealth.
A survey of 2,200 patients validates the quality of treatment provided by Midi Health. As per the same, there were strong results for many health issues, including insomnia, hot flashes, moodiness, anxiety, and depression.
As per the company, it is well-positioned to meet many more needs for women between the ages of 35 and 65 throughout 2024.
“Historically, women’s healthcare has been neglected, with perimenopause and menopause having significant unmet needs,” said Fern Mandelbaum of Emerson Collective. “Midi is providing expert, empathetic care coupled with comprehensive insurance coverage, finally addressing this gap and ensuring that all women receive the support they need and deserve.”
