Launch coincides with follow-on funding round led by Thiel Capital to expand global footprint
SINGAPORE--BUSINESS WIRE--
Rhea, a global reproductive health services company focused on elevating the modern family's fertility journey, announced its official launch today. Rhea is the first end-to-end reproductive health ecosystem connecting prospective families in Asia with complementary operations in North America and Europe to provide a high standard of comprehensive care across geographies.
Rhea's services ecosystem is centered around a global network of owned and partner clinics. This ecosystem is powered by Rhea Labs, an integrated technology platform that leverages data, accelerated time to market, and quality product feedback loops to improve patient outcomes. The company's fertility services are delivered by Rhea's patient journey management tools and clinic network, Generation Prime, which has formally rebranded as GenPrime.
The company announced a follow-on round led by returning investor Thiel Capital, with participation from funds including LifeX Ventures, Blue Lion Global, and FJ Labs. The additional funding will be used to expand Rhea's footprint and service offerings in new markets.
In tandem with the new funding, Rhea unveiled its acquisition of Embryonics, a company that leverages a suite of novel AI technologies to enhance the process and results of fertility treatments. The Embryonics team and its AI diagnostic tools have been integrated within Rhea Labs, utilizing data-driven science to advance Rhea's product development roadmap. Rhea Labs is also building RheaX, the company's global gamete exchange, providing first-of-kind solutions to improve the process of gamete matching and transfers. The exchange will be developed as part of Rhea's joint venture with Baylor College of Medicine, a health sciences university located within the Texas Medical Center, the largest medical center in the world. Rhea is also collaborating closely with Baylor to launch a joint award for reproductive health research this fall.
To support its growth, Rhea formally introduced its senior advisory panel, including:
- Dr. Milton Leong, a pioneer of IVF in Hong Kong and Founding President of The Hong Kong Society for Reproductive Medicine. Dr. Leong was responsible for the first IVF baby in Hong Kong in 1985. He has been a reproductive medicine specialist for more than 30 years, and is the co-founder of IVF Worldwide;
- Cynthia Hudson, VP of Clinical Strategy at TMRW Life Sciences. Hudson was co-founder of Kindbody, a leading fertility clinic network and family-building benefits provider in the United States and holds over 20 years of experience in reproductive technology;
- Dr. Javaid I. Sheikh, Dean of Weill Cornell Medicine - Qatar. Dean Sheikh is a renowned medical executive and previous Board Chairman of the Palo Alto Institute for Research and Education at Stanford University School of Medicine and the Veterans Administration Palo Alto Health Care System in California;
- Dr. Michael Coburn, Professor and Chair of the Department of Urology at Baylor College of Medicine. Professor Coburn served as Chief of Urology at Ben Taub Hospital from 1990 until 2012 and is a member of the Board of Governors of the American College of Surgeons. He is the recipient of the Robertson Presidential Educator Award for lifetime achievement in educational leadership at Baylor College of Medicine;
- Bea Camacho, Director of Southeast Asia for IDEO. Camacho has extensive experience in designing human-centered services and digital products, developing new business ventures, and building innovation capabilities. Her clients span healthcare, education, hospitality, financial services, and consumer goods and have included Merck, Medtronic, Roche, IKEA, Nike, and Marriott.
- Weylin Liew, Global Sustainability Portfolio Manager and Head of Active Engagement at Singapore sovereign wealth fund GIC. Weylin is also co-founder of Fertility Support SG, a registered charity focused on reproductive health resources and support in Singapore.
Margaret Wang, Managing Partner at Recharge Capital and former Head of Bridgewater Associates Singapore was appointed CEO of Rhea upon joining the company in 2023. Rhea was incubated by Recharge Capital, a thematic-first private investment firm fueling innovation in women's healthcare solutions. Recharge Capital remains a key investor in the company.
"The current fertility services market is fragmented and disparate, causing unneeded barriers for intended parents navigating the challenges of realizing their family-building dreams," said Margaret Wang, CEO of Rhea. "With our growing clinic network, Rhea Labs' powerful solutions, and the guidance of our world-class advisors, we are delivering a modern and integrated ecosystem of services, technology, and partnerships to elevate reproductive health journeys globally."
Headquartered in Singapore and New York, U.S., the company plans to continue its strategic acquisition strategy in 2024 and expand its geographic footprint for patients in new regions.
About Rhea
Rhea is a modern global reproductive health services company elevating fertility journeys for the modern family. The company's clinical services are delivered by Rhea's GenPrime clinic network and a growing number of partner clinics. The company's clinic network is powered by Rhea Labs, an integrated technology platform leveraging the flywheel of accelerated time to market and short product feedback loop to improve patient outcomes. Incubated and developed by Recharge Capital, a leading thematic-first investment firm, Rhea is a Cayman entity headquartered in Singapore and New York, U.S., serving markets across Asia with additional operations in North America and Europe.
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