Welcome to issue #170 of FutureFemHealth (w/c 2 November 2026) â your weekly briefing on the global womenâs health market.
Hot on the heels of last weekâs FerringâGameto acquisition announcement, weâve got not one but two more big womenâs health deals this week. Letâs get goingâŠ
đ In this weekâs briefing:
đ° Big deals! Cinven to acquire Theramex in a reported âŹ2.6bn deal, while the European rights to menopause treatment Ovestin changes hands for âŹ197m.
đ Hailey Bieber backs womenâs health research: rhode commits $5m to research and investment in neglected areas of womenâs health.
đ©ș Rethinking pelvic pain care: Bloume launches a digital clinic bringing specialist services together.
đŹ Progress for preeclampsia diagnostics: Mirvie reports wider insurance coverage and appoints a new CEO to drive commercial growth
Share your news: anna@futurefemhealth.com
đ° Capital flows
UK: Cinven to acquire womenâs health company Theramex in reported âŹ2.6bn deal. Theramex has almost doubled its valuation in just four years, from approximately âŹ1.4bn when it was acquired in 2022 to a reported âŹ2.6bn today. The pharma company now reaches more than six million women across 80 countries with treatments across menopause, osteoporosis, contraception and fertility, and has more than doubled its EBITDA during that period. Cinven plans further international expansion, with Theramex CEO Robert Stewart setting out an ambition to become the global leader in womenâs health. Coming just days after Ferringâs proposed acquisition of Gameto (shared in our newsletter last week), itâs another substantial deal in the sector, this time involving an established, profitable womenâs health business rather than an early-stage technology. Financial terms have not been officially disclosed, and the transaction remains subject to regulatory approval. (Continue reading: FutureFemHealth)
đ EU: Established menopause treatment Ovestin changes hands in âŹ197m deal. And another huge deal this week as a menopause treatment thatâs been on the market for decades has just been valued at more than five times its annual sales. South Africaâs Aspen Pharmacare has agreed to sell the European rights to Ovestin, a vaginal oestrogen treatment used for symptoms including vaginal dryness, to UK-based Ennogen Healthcare International for âŹ197m. The product generated approximately âŹ38m in revenue last year, and the deal covers 38 European markets, including the UK. Aspen will continue manufacturing and supplying Ovestin for at least ten years. The backdrop to all of this is that awareness of the benefits of vaginal oestrogen is growing, plus thereâs been a wider reassessment of hormone therapy safety. The transaction remains subject to financing conditions. (Continue reading: Business Insider Africa)
đ Industry moves and strategic shifts
đ UK: Bloume Health launches digital clinic for chronic pelvic pain. An estimated one in seven women lives with chronic pelvic pain, yet getting a diagnosis can take seven years. Part of the problem is that women often need help from several different specialists, but that care is rarely coordinated. UK startup Bloume Health is trying to change this with a new digital clinic bringing together gynaecology, psychosexual therapy, structured support groups and a self-guided app. Founded by Dr Claudia Chisari, whose research at Kingâs College London focused on vulvodynia, the company has secured more than ÂŁ215,000 in funding from Innovate UK and angel investors. (Continue reading: FutureFemHealth)
US: Eight Sleep launches menopause-specific sleep technology. Sleep tech company Eight Sleep says its temperature-controlled mattress system reduced self-reported nighttime hot flashes by 56% in a short study. Itâs now launched Menopause Mode, which automatically adjusts bed temperature overnight to help women manage disrupted sleep. The feature was developed using data from more than 57,000 nights of sleep from 450 peri- and postmenopausal women. Following its earlier Pregnancy Mode launch, Eight Sleep is building womenâs health features into a mainstream sleep product, although independent research will be needed to establish how effective the approach is. (Continue reading: Eight Sleep)
đ US: WHOOP partners with Ulta Beauty to reach 47 million loyalty members. Expanding beyond elite athletes, WHOOP is taking its wearables to the largely female customer base of beauty retailer Ulta Beauty. From March 2027, WHOOP devices will be available online and in selected US stores, introducing sleep, recovery and longevity tracking to a new audience. The partnership gives WHOOP access to Ultaâs 47 million loyalty members and could open up new opportunities to reach women interested in monitoring their health. (Continue reading: WHOOP)
đ US: Mirvie appoints new CEO as preeclampsia test gains insurance coverage. Mirvie says its Encompass blood test now has insurance coverage for approximately one in seven commercially insured pregnancies in the US. Thatâs an important step for a technology designed to identify women at risk months before symptoms appear. The company has also appointed David Stern, former CEO of Kindbody and Boston IVF, to lead its next stage of growth, with founder Maneesh Jain becoming executive vice-chair. Having made progress on reimbursement, Mirvie now faces the challenge of getting its test into routine maternity care. (Continue reading: Mirvie)
đŹ On FutureFemHealth Pro: Better diagnostics arenât enough in preeclampsia
Why is it so difficult to get better tests for a potentially life-threatening pregnancy complication into routine clinical care?
Thatâs one of the questions we explore in our latest Pro analysis, following a busy September and October for preeclampsia innovation, with new funding, research and developments across diagnostics and treatments.
Weâve taken a closer look at the companies developing these technologies, how far theyâve progressed and whatâs still missing. Because identifying women at risk earlier is important, but what happens next matters just as much.
đ©ž Research and womenâs health news
đ US: Hailey Bieberâs rhode commits $5m to womenâs health research. Of all the causes a successful beauty brand could choose to support, Hailey Bieberâs rhode is putting $5m into womenâs health research (woohoo!). This three-year commitment to the Foundation for Womenâs Health will support areas including pregnancy, postpartum health, autoimmune conditions and PMOS (formerly PCOS). It also includes a $1m Evergreen Fund to back companies developing new diagnostics and treatments. Weâve seen Melinda French Gates lead the way in philanthropic funding for womenâs health, so itâs exciting to see a younger entrepreneur with a huge consumer audience backing medical research too â and potentially bringing the subject to millions of people who might not otherwise be paying attention.(Continue reading: rhode)
đĄ Perspectives
đ US: Menopause startup founder shares lessons from closing Play Health. Play Health launched in 2025 to help women access better perimenopause care, initially through an app and hormone testing before developing a clinical support platform. But despite interest from patients and clinicians, founder Andrea Mazzocchi says the company couldnât find a sustainable business model. In a candid âpost-mortemâ, she describes how overstretched healthcare providers, limited financial incentives for menopause care and competition from heavily marketed consumer brands made it difficult to gain traction. Her biggest lesson? A genuine unmet health need doesnât automatically translate into a viable business. (Continue reading: Andrea Mazzocchiâs post-mortem)
đ Policy watch: risks and opportunities
đ UK: Northern Ireland commits ÂŁ1.95m to improving endometriosis care. The number of women waiting more than 12 months for inpatient or day-case gynaecology treatment in Northern Ireland has recently fallen by 56%, and now the government is putting further funding specifically into endometriosis services. A new ÂŁ1.95m investment includes ÂŁ700,000 for two specialist centres in Belfast and the Western Trust, with another ÂŁ1.25m going towards improving local services and developing a regional care pathway. The aim is to make specialist endometriosis care more consistent across the region. (Continue reading: Northern Ireland Department of Health)
đ Save the date
CANADA: Womenâs Health Investor Networking Event. Toronto. November 9. đ Register here.
ITALY: Womenâs Health Innovation Forum. Rome. November 10. đ Register here.
FRANCE: Womenâs Health Europe Forum. Paris. November 27. đ Register here
Thatâs all for this week. If you found this briefing useful, please forward it to someone working in womenâs health.
Anna
PS - even more from FutureFemHealthâŠ.
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This newsletter is for informational purposes only and should not be considered medical or financial advice.