Willow, a pioneer in wearable breast pumps, has recently made headlines with its acquisition of the British femtech company Elvie. This strategic move is aimed at scaling the companies’ maternal health platforms and expanding their reach in the women’s health medical device market.
Based in San Francisco, Willow is known for its innovative in-bra breast pumps, pumping accessories, and breast care products. The company received FDA 510(k) clearance for its latest breast pump, the Willow Generation 3 Breast Pump, in October of last year. On the other hand, Elvie offers a range of products including breast pumps, pelvic floor care solutions, and a smart bouncer and bassinet for babies called Elvie Rise.
The collaboration between Willow and Elvie is expected to combine their respective strengths and offerings to provide comprehensive maternal health solutions to women. Karim Abdel-Ghaffar Plaza, director at Elvie, expressed his excitement about the acquisition, stating that the iconic Elvie brand and its innovative products will continue to thrive under Willow’s guidance.
The acquisition comes at a crucial time for Elvie, as reports indicate that the company was facing financial challenges and had fallen into administration before being acquired by Willow. Despite these setbacks, Elvie has managed to raise over $186 million since its inception in 2013, with a valuation of $241 million. The acquisition also follows a legal dispute between Willow and Elvie over patent infringement, which was ongoing at the time of the acquisition.
In addition to the acquisition, Willow has been making waves in the maternal health space with the launch of Ema, a conversational AI tool designed to provide support to mothers on various aspects of maternal health. The company has also expanded its retail presence by partnering with Target to offer its Find Your Flow Feeding Kit, which includes breastfeeding accessories.
Furthermore, Willow secured $55 million in Series C funding in 2020, bringing its total funding to around $254 million. Elvie, on the other hand, made waves at CES earlier this year with the launch of its smart bouncer Elvie Rise, which offers parents insights into their baby’s sleep patterns and can be controlled through an app.
Overall, the acquisition of Elvie by Willow signifies a significant development in the women’s health tech industry, with both companies poised to make a lasting impact on maternal health and wellness.
