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Wellness startup Superpower acquired women's health company Feminade in a mix of cash and equity, Feminade CEO Roya Pakzad tells Axios exclusively.

Why it matters: The direct-to-consumer wellness sector is consolidating with women's health startups being acquired by more generic health companies.

Zoom in: San Francisco-based Superpower is acquiring Feminade's 5,000 subscribers, customer lists, website and data on the kinds of supplements that were most popular among Feminade's customers.

Feminade's annual revenue is $300,000, per Pakzad. Superpower CEO Jacob Peters declined to share Superpower's revenue but said its customer waitlist includes 148,000 people.

How it works: Superpower connects its users virtually to MDs who've specialized in functional medicine, Peters says.

It also links each customer with a registered dietitian or nutritionist and a nurse practitioner who can prescribe medications.

The company has raised $4 million from investors including Susa Ventures and Long Journey Ventures since launching in May.

Between the lines: The DTC consolidation wave began in 2021 and saw several generic testing and supplement companies scoop up similar startups focused on women.

Direct-to-consumer health company Ro in 2021 bought women-focused fertility startup Modern Health for a reported $225 million.

Home diagnostics brand Everly Health in 2021 acquired fertility startup Natalist.

Thirty Madison in 2023 purchased patient files from women-focused The Pill Club for $32.3 million.

The backstory: Pakzad, who knew Peters from a previous startup, reached out to him about a job. Peters responded that while he didn't have any positions available, he was interested in an acquisition deal with Feminade.

What they're saying: "Superpower is what I wanted Feminade to be," says Pakzad.

The big picture: Functional medicine — which, for example, emphasizes the importance of lifestyle changes and prevention — has gained steam recently among an American public wary of medical authorities and among clinicians and startups who've capitalized on the trend.

Function, led by Mark Hyman — who is a longtime friend of Robert F. Kennedy Jr. and early functional medicine proponent — recently raised $45 million in a round led by Andreessen Horowitz.

A growing number of health systems have also warmed to the potential advantages of a functional medicine-style approach.

The other side: A hefty amount of criticism has also been leveled at approaches from people like Hyman, who advocates for unproven treatments like heavy metal detoxification and ozone therapy.

Exclusive: Wellness startup Superpower buys women-focused Feminade

The DTC wellness sector is consolidating, with niche startups being acquired.

Illustration of falling pills surrounded by abstract shapes and sections of dollars.

Wellness startup Superpower acquired women&#x27;s health company Feminade in a mix of cash and equity, Feminade CEO Roya Pakzad tells Axios exclusively.Why it matters: The direct-to-consumer wellness sector is consolidating with women&#x27;s health startups being acquired by more generic health companies.

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Exclusive: Wellness startup Superpower buys women-focused Feminade

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