Celebrities, CEOs, and Sports Stars Back Midi Health, a Startup Focused on Menopause Solutions

Good Morning, Broadsheet Readers!

As we gather today’s insights, we’re greeted with significant movements in the health tech landscape, evolving leadership in European governance, and a unique funding initiative aimed at enhancing women’s healthcare. Let’s dive into the latest developments that shape our world today.

All Board Members Resign from 23andMe

In a surprising turn of events, all independent members of 23andMe’s board have tendered their resignations. This mass exit follows a protracted dispute with CEO Anne Wojcicki. The crux of the issue appears to revolve around Wojcicki’s ambitions to take the company private, despite 23andMe’s ongoing struggle to turn a profit since its public debut in 2021. Wojcicki expressed her disappointment at the board’s departure, indicating a tumultuous phase ahead for the DNA-testing firm.

This unexpected shake-up raises questions about the company’s future direction and governance. 23andMe, a pioneer in personal genomics, will need to address significant challenges in sustaining investor confidence and navigating its fiduciary responsibilities without the experience of its recently departed board members.

Teresa Ribera: Anticipated New Antitrust Chief of Europe

Turning our gaze across the Atlantic, we see the European Commission poised for changes as President Ursula von der Leyen announces her new team. Among the notable appointments, Teresa Ribera, Spain’s ecological minister, is expected to take over as Europe’s new antitrust chief, succeeding Margrethe Vestager. Ribera’s background positions her as a sustainable development advocate, hinting at a potential shift in approach towards regulating competition in a rapidly evolving digital economy. With technology and environmental concerns increasingly intertwined, her leadership could bring fresh perspectives that prioritize ethical practices in corporate behavior.

Midi Health: A $5 Million Fund For Women’s Midlife Care

In a groundbreaking move for women’s health, Midi Health has successfully raised $5 million in funding, featuring a remarkable cohort of 80 female investors from diverse industries. This initiative highlights the urgent need for menopause care—a subject that has historically received limited attention. Esteemed actors, comedians, and industry leaders like Amy Schumer and Connie Britton are stepping forward, recognizing the commonality of menopausal experiences, and emphasizing the importance of accessible healthcare solutions.

Mallun Yen, founder of Operator Collective, articulated the collective sentiment of the investors, saying, “Most of us in this fund who are investors are over 40 and most of us have kids…100% of the 90% are going to go through menopause.” This funding round directed by women for women illustrates a unique shift in the investment landscape, empowering female voices to drive change in the healthcare system.

Women’s Healthcare: The Vision of Joanna Strober

Joanna Strober, the founder of Midi Health, has a deeply personal connection to the mission of her company. After experiencing the complexities of perimenopause herself, she was determined to streamline the healthcare experience for women facing similar issues. Through its virtual, insurance-covered services, Midi Health is addressing gaps in menopause care with a network of over 200 trained providers.

Having initially raised $14 million in seed funding last year, Midi Health’s growth trajectory is impressive, culminating in $63 million in Series B funding, positioning them to serve up to one million women annually—a tenfold increase from their current reach of 100,000.

Breaking the Stigma: A Call for Awareness

Strober’s vision extends beyond just healthcare access; she aims to dismantle the stigma associated with menopause, advocating for greater awareness and understanding. Notably, she underscores that the conversation should not center solely around accommodations but also emphasize advocacy for medical treatment and support.

The momentum behind Midi Health underlines a crucial narrative: as women’s health continues to gain visibility, it’s imperative that we support companies driven by those who are intimately aware of the challenges women face.

In Other News

• Delayed Care: ProPublica highlights a disturbing case of a preventable abortion-related death in Georgia, underscoring the impact of restrictive reproductive health laws enacted post-Roe v. Wade.

• Booker Prize Nominations: The literary sphere is buzzing as five of the six novels nominated for the prestigious Booker Prize are authored by women, marking a historic achievement.

• Leadership Moves: Noteworthy appointments include Sally Jenkins as CMO at dbt Labs and Ali Levitan as Chief Growth Officer at Toivoa, indicating a continued trend of empowering women in leadership roles across industries.

Parting Words

As we navigate these shifts, we are reminded by Tarana Burke, the founder of the #MeToo movement, that "Power and privilege are no longer a complete cover for people who decide to abuse and harm." It’s a testament to the evolving tapestry of accountability and empowerment in our society.

Have a terrific Thursday, and thank you for joining us in exploring these pivotal narratives that shape both our professional environments and personal lives!