January 18, 2025 - 00:16
Struggling genetic testing company 23andMe is looking for a buyer for the virtual care business it acquired in 2021. This move comes as the company faces significant challenges in the competitive landscape of genetic testing and telehealth services. Lemonaid, which provides online consultations and prescriptions, was seen as a strategic expansion for 23andMe, aiming to integrate health data with telehealth solutions.
However, the ongoing difficulties in the market have prompted 23andMe to reassess its business strategy. The potential sale of Lemonaid reflects a broader trend in the healthcare sector, where companies are increasingly focused on core competencies and profitability. Analysts believe that divesting from the telehealth sector could allow 23andMe to concentrate on its primary genetic testing services.
As the company navigates this transition, it remains to be seen how the sale will impact its overall operations and future growth prospects. The decision underscores the complexities of merging genetic testing with telehealth in an evolving healthcare landscape.
