Hims & Hers Health (HIMS, Financials) shares slumped 24.5% on Thursday as Amazon (AMZN, Financials) expanded into new treatment sectors; shares are recovering somewhat, up 4.3% in Friday's pre-market trading.
Now called Amazon One Medical, Amazon said that its redesigned telehealth service would provide consultations for more than thirty medical issues. The company's website states that on-demand texting sessions will cost $29 while video visits will $49.
Using either Amazon Pharmacy or another preferred pharmacy, users of Amazon's service will be able to fill prescriptions. Treatments will cover wellness issues like hair loss and sexual dysfunction as well as medical problems. Those between the ages of eighteen and sixty-four who are not insured by Medicare or Medicaid will have the pay-per-visit choice.
Members of Amazon Prime will also get further advantages like access to certain therapies at fixed monthly costs. For Prime members, medication shipment will be free; usually, this is provided within hours after prescription writing.
Although Amazon One Medical and Pharmacy take insurance for a number of services, insurance will not apply for telehealth sessions or prescriptions written under the Prime Rx discount program.
Citing more competition, Bank of America downgraded Hims & Hers from a buy rating to outperform after Amazon's announcement.
