Modern Fertility's co-founder left Ro a year after their $225M-plus deal

Ro is a digital health unicorn; Modern Fertility sold at-home fertility testing and, in its co-founder's words, created an entirely new category

Ro acquired Modern Fertility in 2021 for north of $225 million, per TechCrunch

Afton Vechery and Carly Leahy built Modern Fertility into a company that turned fertility testing into a consumer product. Ro acquired it in 2021 for north of $225 million, installing Vechery as president of women's health while Ro's own earlier women's health vertical, Rory, had seen little investment.

Rumors of Vechery's departure ran for over six months, first sparked by an employee exodus that peaked in 2021. Former and current employees said the acquisition felt 'for optics' rather than for actual change, noting Rory's leader Rachel Blank had already left to found her own women's hormonal health company. Ro had also recently parted ways with COO George Koveos and Ro Pharmacy GM Steve Buck.

On May 9, 2022 TechCrunch reported Vechery would leave effective May 18, staying on as an advisor to Ro's fertility services, with Ro general manager Hannah Ma taking over fertility and women's health. Vechery wrote to staff that she is 'an entrepreneur at heart'.

An employee exodus and an 'acquisition for optics' narrative undercut the deal's internal credibility

Rory set the precedent: Ro's previous women's health vertical withered, and its leader had already left to compete

Executive turnover across Ro — COO, pharmacy GM, then its most prominent acquired founder — signaled broader change

Vechery said entrepreneurship, not disillusionment, pulled her out: 'I am and always will be an entrepreneur at heart'

Acquired founders rarely stay: judge an acquisition integration by what happened to the vertical before it, and plan for the day the entrepreneur walks.

As of May 2022 Ro kept Modern Fertility as a key growth area and moved GM Hannah Ma over fertility and women's health, while narrowing initiatives for the rest of the year under 'growth with discipline'. Vechery remained an advisor to Ro's fertility services.