Il Makiage parent Oddity takes aim at Hims with new telehealth skincare platform Methodiq

Core Insights - Oddity, the parent company of Il Makiage, is launching Methodiq, a telehealth platform focused on medical-grade skin care, to compete with Hims and address issues in the medical care system [1][2] Company Overview - Methodiq has been in development for four years and offers 28 products targeting acne, hyperpigmentation, and eczema, with prices ranging from approximately $29 to $59 [1][2] - The platform combines investments in biotechnology, AI-based imaging, and digital retailing, aiming to capture a share of the medical skin care market projected to reach $113 billion in 2023 [2] Market Positioning - Methodiq directly competes with Hims, which has established a successful telehealth platform for anti-acne medications [2][4] - The launch indicates Oddity's potential for deeper expansion into the healthcare sector [2] User Base and Market Opportunity - Oddity has 60 million users, with around half experiencing skin conditions like acne and eczema, presenting a significant market opportunity [3][12] - There is a lack of dermatologists in over 60% of U.S. counties, highlighting the need for accessible dermatological care [13] Product Development and Technology - Methodiq utilizes AI and computational imaging technologies acquired through previous investments to enhance product offerings [7][8] - The platform includes a facial scan and a medical review process to recommend personalized treatment kits [9][14] Product Features - Methodiq's Clindalaq product combines prescription-strength ingredients with additional components to improve user experience and reduce side effects [10][11] - The platform aims to provide a "true beauty experience" in a prescription formula, making effective treatments more appealing [12] Access to Care - Methodiq seeks to improve access to dermatological care by connecting patients with medical professionals through a chat function, although it does not currently support video consultations [15][16] - The inclusion of various healthcare providers to prescribe treatments can enhance access to care, especially in underserved areas [17]