The San Francisco femtech company is now likely to dominate the breast pump market with its acquisition of its British rival.
San Francisco-based Willow Innovations has acquired Bristol’s breast pump innovator Elvie for an undisclosed sum.
“Together, Willow and Elvie create a scaled maternal health platform with two iconic brands, a diversified product portfolio, global distribution, and efficient operations,” the firms said in a statement.
Founded in 2013, Elvie raised £150 million in ten rounds of funding from blue chip investors like Samsung NEXT, Octopus Ventures, Business Growth Fund, Hiro Capital and BlackRock Private Equity Partners.
The takeover of Elvie has happened as the company entered administration. Willow has taken all assets and all of the company’s employees.
“Acquiring Elvie, a deeply respected innovator in the women’s health category, puts us in a leadership position to continue innovating for moms and drive meaningful, global advancements in women’s and maternal health,” said Willow chief executive Sarah O’Leary.
Solomon Partners served as financial advisor to Willow Innovations on the transaction.
“The consumer healthtech market is poised for continued growth, and this strategic transaction further solidifies Willow’s position as a scaled leader in the fragmented category,” said Solomon Partners director Eric Bormel.
In 2023, Willow had sued Elvie for patent infringement on seven patents for its breast pump product.
