Willow, a leader in wearable breast pumps, is acquiring Elvie, known for its smart Kegel trainer and related products. This merger comes as Elvie struggles with financial difficulties, entering administration despite raising over $186 million in funding. Willow has also seen fluctuations, raising $254 million but facing a valuation drop post-2021. The acquisition underscores the tightening femtech market, marked by increased consolidation as companies navigate challenging financial landscapes, showing both opportunities and risks within women's health tech.
"The transaction is taking shape after many months of alternative expectations," Willow CEO Sarah O'Leary said in an interview.
Willow is acquiring Elvie amidst its financial struggles, which indicates a growing trend of consolidation in the femtech sector.
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