Hims & Hers launches blood test analysis product

Hims & Hers announced the launch of a lab-testing product it says will analyze bloodwork and suggest custom health plans.

The product, called “Labs,” will allow users to upload bloodwork and suggest “doctor-developed action plans,” which may include suggestions for medication that is sold by Hims or its partners.

The product has two tiers: a base plan that costs $199 a year or an advanced plan for $499 a year. The base plan comes with one blood draw a year, while the advanced comes with two and measures more biomarkers. Similar products are sold by startups like Function Health and Lifeforce.

The testing is being done through a partnership with Quest Diagnostics. Hims expects to introduce more specs, including at-home testing devices, over time. The company acquired an at-home blood-testing facility, Trybe Labs, in February, which is being used to onboard patients in Hims’ new hormone treatment segments.

Hims was down about 6% leading up to the announcement and stayed around there after the announcement.

The announcement comes as Hims investors have grown increasingly gloomy, with many momentum stocks like Hims having pulled back sharply of late. Hims is down 40% since October 15, when it announced it would expand its product lineup to offer menopause treatments.

The company has been looking for ways to spark sales growth as its core sexual health business slows down and its ability to sell weight-loss treatments remains on shaky ground. Its expansion into hormone treatments has sparked short-lived rallies, but other signs, like executive stock sales and the sudden departure of its newly appointed chief operating officer, Amazon alum Nader Kabbani, have given investors pause.