Philippine-based men's telehealth platform GoRocky has announced its expansion into the women's healthcare sector through the acquisition of select assets from Kindred Health, Inc. This strategic move signals GoRocky's intent to become a more comprehensive digital health provider in the country. The acquisition allows the company to leverage Kindred's established brand and customer base to serve a new and significant market segment.
A Strategic Pivot to Women's Health
The decision to enter the women's health market was a natural progression for GoRocky, according to co-founder and CEO Kiyanusch Braun. He revealed that over 60% of the platform's weight management patients are women, a demographic the company's male-focused branding could not fully cater to. This acquisition provides an immediate solution by integrating a well-known name in women's wellness into its portfolio.
Under the agreement, GoRocky has acquired the Kindred brand, its customer base of over forty thousand patients, and portions of its staff. The deal also includes the flagship Kindred clinic located in Taguig City’s Bonifacio Global District (BGC). This asset purchase gives GoRocky a significant physical and digital footprint to build upon as it expands its service offerings.
Clarifying the Acquisition's Scope
It is important to note that GoRocky was not involved in the recent closure of seven of Kindred's eight clinics. The company's acquisition is limited to the single remaining BGC branch and other specified assets. This distinction clarifies that GoRocky is not responsible for the operational decisions that preceded the final agreement between the two companies.
Kindred Health, Inc. will continue to exist as a separate legal entity, responsible for its own existing obligations and outstanding payables. The acquisition deliberately excluded certain medical equipment, such as ultrasound machines, and any liabilities associated with the now-closed clinic locations. This structure ensures a clean transition for the assets being absorbed by GoRocky.
Ensuring Patient Continuity and Rebuilding Trust
To ensure a smooth transition for patients, GoRocky has committed to honoring any outstanding services or purchases from the closed Kindred clinics. The company is arranging for patients to be served at the BGC clinic or receive at-home deliveries for their purchases. This commitment is a crucial step in maintaining continuity of care for Kindred's clientele during this period of change.
In a public statement, Kindred acknowledged a lack of communication during its transition, which caused concern among its patients. In response, the company has launched 24/7 support and care coordination to address inquiries and rebuild confidence. GoRocky's leadership has expressed a strong desire to restore the trust between the Kindred brand and its valued patient community.
Future Services and Market Adaptation
Looking ahead, GoRocky plans to initially offer a focused portfolio of services at the Kindred BGC clinic. The long-term vision involves expanding into specialized areas such as menopause, metabolic health, mental health, and sexual health. Patients will have flexible options, including in-clinic visits, teleconsultations, and at-home services like vaccinations and diagnostics.
GoRocky's strategy involves adapting successful global telehealth models, like those of Hims & Hers, to the unique needs of the Philippine market. For instance, the platform offers cash-on-delivery payments, a popular local preference not typically found in Western subscription models. This localized approach demonstrates a nuanced understanding of Filipino consumer behavior and is key to its growth strategy.
GoRocky's acquisition of Kindred's assets marks a pivotal moment for the company, transforming it from a niche men's health platform into a broader digital health player. The success of this venture will hinge on its ability to seamlessly integrate the Kindred brand, restore patient trust, and execute its vision for expanded healthcare services. This move positions GoRocky to address the diverse wellness needs of a much larger population in the Philippines.