New York-based Vault Health, a men's health service combining at-home and telehealth visits, launched last week on the back of a $30 million funding round. Tiger Global Management headed the raise, which also saw investments from Redesign Health and Declaration Capital.
So far the practice is active in New York, Florida, Tennessee and Texas. However, the startup has since posted a notification on its website explaining that all in-person appointments for New York patients will be switched to virtual visits due to COVID-19 concerns. Providers in Florida and Texas are still attending in-home appointments, but are undergoing additional disinfection precautions, according to the company.
WHAT THEY DO
Vault looks to improve mens' sexual, mental and wellness health with prescription hormone-replacement therapies and other health supplements.
To do so, consumers share their symptoms online and schedule an in-home appointment with a Vault provider. After a check-up and blood draw, consumers discuss their results in a telehealth consultation and receive a prescription for their treatments, which are mailed to the consumer in discreet packaging. These treatment plan subscriptions range in price from $133 per month to $299 per month depending on the treatment "kits" consumers are interested in.
“Lack of education coupled with well-publicized misuse has created a lot of stigma and misinformation around testosterone therapies," CEO Jason Feldman, who previously served as head of Prime Video Direct at Amazon, said in a statement. "At Vault, we pride ourselves on providing our patients with safe, effective, and personalized treatment plans in their home, without ever having to visit a doctor’s office.”
WHAT IT'S FOR
According to its website, Vault has plans to expand its services across dozens of U.S. states and major population centers, including Chicago, Philadelphia, Boston, Los Angeles and Las Vegas.
The consumer-friendly, mail-order model of men's health Vault is employing isn't a far cry from those of Ro and Hims. Both of these companies have made e a name for themselves over the past few years through expansive marketing campaigns and well-funded capital raises, and have since been focused on expanding their offerings to cover additional health concerns such as allergy relief and smoking cessation.
Both companies have also tackled women's sexual health and wellness issues, while other startup services like California-based CurieMD have, similar to Vault, gone all-in on virtual consultations and prescription menopause hormone replacement therapies.