Form Health

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Founder: Evan Richardson
Founding: 2019
Mission: To change lives through science-based obesity care
Employees: 95 & ~20% Local
Workplace: Remote
Stage & Capital Raised: Series B & $64.8M raised
Investors: Sound Ventures, M13, SignalFire, NextView
Key Customers/Partners: In-network with national health plans, don’t disclose clients
Glassdoor Rating: 4.9
Valuation (estimated): $250M (assuming they sold ~15% of the company’s equity to investors in the $38M Series B fundraise)
^ this is a useless number from MGMT Boston. There is no tangible valuation until the business is sold or goes public. Don’t forget it!

Form Health is a virtual obesity medicine clinic that provides science-based obesity care to help patients achieve their weight loss and health goals. Each patient works 1:1 with an obesity medicine doctor and Registered Dietician to build personalized treatment plans which address lifestyle changes and include a prescription for FDA approved medication (when appropriate).

This growth stage startup, fresh off a Series B fundraising announcement, was founded in 2019 by Evan Richardson. Evan has spent his career building healthtech startups like Castlight Health and Included Health while also investing in healthcare at SignalFire. Motivated by both personal experience and the increasing prevalence of obesity as a chronic condition, Evan joined forces with Dr. Florencia Halperin to build a next generation healthtech company that combined telehealth with science-based, physician-led treatment for sustained weight loss.

Guys and gals, the statistics are pretty alarming. According to the CDC, ~42% of American adults over the age of 20 have obesity (src). The obesity management market is growing from $2B in 2023 to $3B+ over the next 10 years (src). Unfortunately, it’s a steadily growing market.

Traditional approaches to weight loss often fail to address the multifaceted nature of obesity, leaving many individuals feeling unsupported by the healthcare system. Traditional diet programs lead with “if they only tried harder with more discipline, they would succeed”. Yeah, exercise more and eat less! We know! 

The medical community has recognized that patients succeed when clinical treatment plans are paired with highly personalized lifestyle intervention. Form Health is building a virtual care model to expand access to this high quality, science-based care. Semaglutide, better known by  commercial names like Ozempic and Wegovy, and tirzepatide, better known by commercial names like Mounjaro and Zepbound, have revolutionized what is possible from a pharmacological treatment perspective. These GLP-1 medications have become (TikTok) famous..and not necessarily in the best way. But that’s another story.

Each Form Health patient is assigned an American Board of Obesity Medicine-certified (ABOM) doctor and a Registered Dietitian who is a Certified Specialist in Obesity and Weight Management (CSOWM). The care is comprehensive, combining lifestyle changes with supervised clinical treatment plans that may include medication, if appropriate. Form Health prioritizes individualized care plans that are tailored to each patient’s unique needs like understanding a patient’s household situation, whether they work at night, or if they have any allergies or religious constraints that may affect their nutritional plan. Patients have support from their dedicated Form Health Care Team throughout their weight loss journey with frequent video visits and messaging between visits.

The Form Health team originally launched with a direct to consumer model which allowed them to dial in the patient experience. Now, they have evolved their model to focus on enterprise clients. This includes partnering with large employers and health plans, to expand access and coverage to high-quality obesity care, while still continuing to support patients directly too. 

After already having served tens of thousands of patients, the company’s strategic plan for 2H 2024 and beyond involves deepening their enterprise relationships and continuing to scale their operations to serve a growing customer base. Form Health also recently was featured as a  high quality telehealth provider on Eli Lilly’s LillyDirect platform for patients seeking obesity care. 

In 2025 they’re gearing up for a big “benefits plan” focused year to allow both employers and health plans to offer members the wraparound care required for GLP-1 medications to be used safely and effectively. Employers can better manage healthcare costs while creating a healthier and more productive workforce. 

Form Health is hiring across clinical and engineering roles following the announcement of their $38M Series B in June of 2024. They will use the capital to expand their enterprise footprint, recruit more qualified & talented care providers, and continue to build their technology & product development teams (in Boston and beyond). They are backed by Sound Ventures, M13, SignalFire, and NextView.

Operators to Know (Locally):

My investigative powers continue to need work so apologies to the Form Health team I know I missed many up & coming operators internally

Key Roles To Be Hired:

If I were interviewing here are some questions I’d ask:

  • What are the big investments that will be made following the Series B funding announcement?
  • What are the biggest challenges as you scale the team past 100 employees?
  • What is the long term vision for the company? 
  • What are the most important roles you’ll be looking to add in 2024 // teams that need the most help?

We’re optimizing for readability here so to learn more about Form Health you’ll have to D.Y.O.R. I’m excited to watch this team help more patients in the digital age. The entire population applauds your efforts. See you around town!

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