Wisp pushes women's sexual and reproductive health services in a 'bold and outspoken' way
Wisp interim CEO Monica Cepak speaks with PharmaVoice, sharing how the company challenges double standards in women's health topics with bold advertising strategies, and introduces its telehealth service expansion plans and 90-day work priorities.
Welcome to the "First 90 Days" series, which focuses on how life sciences executives plan their path to success in new roles. Today's guest is Monica Cepak, who recently became CEO of Wisp, a company taking bold steps to improve access to women's health services.
New York's Times Square seems to have seen it all, but until 2023, it had never featured a billboard with the word "vagina." This shouldn't have caused an uproar—after all, the vagina is just a part of the body. Yet the word itself, let alone discussing it publicly, is still considered taboo and not "family-friendly." At least, that's what the executives at the advertising agency responsible for the billboard told Wisp's interim CEO Monica Cepak—when she was pushing to get the ad approved.
"Meanwhile, Times Square has monsters jumping out of buildings, and frankly, I think that gives kids far more nightmares than the medical use of the word 'vagina' ever would," she said.
This was one battle Cepak won during her tenure as Wisp's chief marketing officer. She held that role for over a year and a half before stepping in as interim CEO in early October. Before joining Wisp, she held senior marketing positions at companies such as Lyft, Artsy, and SimpleHealth.
Now, she plans to continue challenging the double standards that exist in women's sexual and reproductive health. Cepak notes that erectile dysfunction ads have aired on television for decades, yet Wisp's online ads for bacterial vaginosis have repeatedly been taken down. Insufficient ad exposure exacerbates access issues for women's health services. To address this, Wisp works closely with the nonprofit Center for Intimacy Justice to "expose inequalities in advertising," Cepak says.
"We take a very bold and outspoken approach to talking about sexual health because we believe it's critical to breaking down stigma and communication barriers—these conversations must happen so women can get better care," she said. "If you can't talk about certain things, can't say words like 'vagina' or 'abortion,' you can't even begin to access proper care."
"Over time, I think you'll see consolidation in this space, because ultimately that's what... the end consumer is looking for."
Monica Cepak
Interim CEO of Wisp
Founded in 2018, Wisp currently provides telehealth services in all 50 U.S. states, including same-day prescriptions and over-the-counter treatments for urinary tract infections, bacterial vaginosis, herpes, as well as birth control and emergency contraception. The company also offers medication abortion services in nine states. According to the company, Wisp has served more than 800,000 patients and adds approximately 30,000 new patients on average each month. Wisp recently launched a vaginal dryness screening service, with long-term plans to expand into fertility and menopause markets. By the end of this year, the company will launch 10 new products.
"Our vision is to truly cover women across all life stages," Cepak says. She spoke with PharmaVoice shortly after stepping into the interim CEO role.
This interview has been edited for length and style.
PHARMAVOICE: Can you talk about Wisp's telehealth approach and the broader telehealth landscape?
MONICA CEPAK:Telehealth truly took off during the COVID-19 pandemic, filling a significant gap in women's health care. I think any woman who has experienced a urinary tract infection knows that feeling—not having to wait days or even weeks to see a doctor or go to the emergency room. We empower women who understand their symptoms through online questionnaires, giving them faster, better care. For women who are unsure about their symptoms, the same questionnaire guides them to our physicians for help.
In terms of the broader landscape, what I see is a... very fragmented space. Various women's health clinics and telehealth providers keep emerging, but they all only address a small piece of the overall puzzle. So, over time, I think you'll see consolidation in this space, because ultimately that's what... the end consumer is looking for. You don't want to go to one clinic for one thing and use another telehealth provider for something else. What will truly win are the players that bring everything together under one platform in a meaningful way.
What do you bring to Wisp as CMO and now as interim CEO?
I was hired as CMO with the goal of making Wisp a leader in women's health, and I think we've achieved that. I served as CMO for about a year and a half, growing the company 35% year over year, investing in new top-of-funnel channels like streaming audio, and significantly strengthening our influencer program and out-of-home advertising. The brand awareness gains from these investments ultimately translated to the bottom of the funnel, also driving more efficient revenue growth for the business. E-commerce is the lifeline of our profitability and business model, so as the head of that business unit, I was invited to step into the CEO role to help Wisp scale in 2024. I think the board wanted someone who could serve a visionary role while also executing and driving tangible results for the business.
I do believe there's value in a woman's intuition when navigating this market, because when we discuss ideas for new product development or long-term growth strategy, having the ability to drive those conversations from the top is very helpful.
What are your plans for your first 90 days in the role?
I think the focus of the first 90 days is thoughtful, data-driven planning for next year. My goal is to get the business into a planning rhythm that not only plans for the next year but also looks a quarter ahead. I think as a startup, you need to struggle with balancing unexpected situations and quick adjustments, but I want us to be very disciplined in our planning approach.
Q4 is going to be a very important quarter for us, and traditionally one of our strongest. So, I'm equally focused on delivering solid revenue growth and good EBITA; renegotiating with pharmacy partners and taking a fresh look at all existing partnerships; and identifying areas of the business that can be optimized from a cost perspective. We're also making some technology investments on the provider platform side. So, the first 90 days are really about getting 2024 into a solid state so that when January 1st comes, we can execute. We already know and have started moving toward that plan.