A New Approach to Health
Marc Hermann, the CEO of Everlab, notes that around 10 people a day approach the health start-up seeking peptides—anti-ageing compounds popular among biohackers, looksmaxxers, and longevity influencers. However, Everlab consistently turns them away.
“We could make a lot of money with peptides today, but we just think it isn’t safe,” Hermann explained. “We still have very limited medical studies concerning this topic, and therefore we just err on the side of caution.”
This cautious stance is one that Everlab wants to be known for as it transitions from a service aimed at the wealthy and health-obsessed into something more accessible to ordinary Australians.
What Everlab Offers
Everlab members pay for year-round diagnostic testing, including blood panels, scans, and other medical assessments conducted at pathology and radiology clinics. They also receive doctor consultations, many of which are done via telehealth, and access to AI-built health plans through its app. The flagship program costs about $3000 a year.
When this masthead spoke to Hermann last July, Everlab was widely seen as a luxury service, with a customer base predominantly consisting of affluent men. However, Hermann claims that has changed significantly. The company now has over 20,000 members, and the gender split has shifted from about 80% men to a roughly even distribution. Older Australians are signing up in greater numbers, he said, many less interested in a “bio-age” score than in having someone help them understand their health and take action. “My main competitor is the GP,” he noted.
Expert Opinions and Concerns
Some health experts remain skeptical. Luigi Fontana, a University of Sydney professor and leading longevity researcher, pointed out that extensive health screening can lead to incidental findings that result in repeat tests, referrals, anxiety, and additional costs. However, he acknowledged that it was too early to judge Everlab’s overall impact.
“A service built around proper risk assessment and evidence-based prevention was worthwhile; however, one that became a gateway to unproven treatments such as peptides or biological-age testing was ‘not evidence-based medicine and may be useless, costly, and potentially harmful’,” Fontana said.
On the topic of peptides and unproven treatments, Hermann agrees. The company operates as a GP practice and deals with Medicare, he said, which influences what it offers.
Growing Investment and Expansion
The pitch to patients is now supported by significant financial backing. Everlab has raised $65 million in a fundraising round led by Airtree Ventures, with support from London tech investor Plural, existing US and European investors, and angel investors including Australian Test cricket captain Pat Cummins.
Hermann mentioned that the funding round valued the company at just under $500 million, a substantial increase from a much smaller figure at its seed round less than a year ago. Revenue has grown more than tenfold during that time, he added.
Some of the funds will be used to expand a corporate services arm that already counts Bain & Company, Boston Consulting, and BHP as clients. The remaining capital will support an expansion into the UK market.
The Future of Preventative Health
Whether preventative health becomes a common purchase for most Australians rather than a privilege for those who need it the least is the gamble that Everlab has invested half a billion dollars’ worth of expectations on.
