Thanks to our partner: Superpower - https://superpower.com
In episode 82, Jonathan Stern talks with Abrahão Fecury, co-founder and CEO of Eles & Elas, a Brazilian telehealth company built on the Hims playbook and now at about R$4.5 million (~$1 million USD) in annual revenue, growing about +10% a month. Weight loss is about 70% of that (compounded tirzepatide) at a 54% gross margin, with hair loss and mental health smaller and more profitable. Fecury walks through cash-pay pharmacies, Meta and WhatsApp customer acquisition, and how ANVISA's summer ban on Voy changed the category. We close with a discussion about Hims & Hers - where he says, if Hims wants to expand into Brazil, it should "absolutely buy" a telehealth in Brazil (like Voy or Eles & Elas) vs building everything itself.
00:00 - Sponsor: Superpower
04:51 - Revenue of R$4.5 million (~$1 million USD)
10:25 - Margins of each category
13:35 - Brazil healthcare 101
16:43 - 1 in 4 adults in Brazil has obesity
19:22 - Meta Ads brings in 80% of customers
24:30 - Why ANVISA banned Voy, then reversed it on August 5
28:32 - Voy "more than 10x Eles & Elas' revenue"
30:57 - Generic semaglutide margin is only 5-10%
34:26 - Lilly suing in Brazil too
35:30 - Paraguay shenanigans
40:38 - Hims should buy a telehealth to expand into Brazil
48:34 - Other countries in LatAm
Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.
