WoW Woman in Healthcare Investments I Maria Molland, Executive in Residence at Frazier Healthcare Partners
Maria Molland is an accomplished executive, board member and investor with over two decades of experience at the intersection of health tech, consumer brands, and mission-driven innovation.
She is currently an Executive in Residence at Frazier Healthcare Partners, where she focuses on identifying and supporting investments in women’s health, particularly tech-enabled solutions for fertility, postpartum, and midlife care.
Maria is best known for her transformative leadership at Thinx, where she served as CEO and led the company through a turnaround, cultural reset, and eventual acquisition by Kimberly-Clark in 2022. Under her leadership, Thinx became a widely respected global brand, expanded into national and international retailers, launched inclusive product lines, and pioneered transparency in menstrual product safety. Her work has received widespread media attention and accolades for driving change in the femtech space. Maria holds degrees from Northwestern University and Harvard Business School. She is passionate about breaking down stigmas in women’s health, promoting diversity in leadership, and mentoring the next generation of female entrepreneurs.
Outside of work, she enjoys spending time with her two young children, riding her horses on the trails in Marin and Sonoma, traveling, and supporting organizations that focus on equitable access to healthcare.
Frazier Healthcare Partners is a private equity firm founded in 1991, specializing exclusively in healthcare investments. Headquartered in Seattle, with an additional office in New York City, the firm has raised over $9 billion in capital and invested in more than 200 companies across the U.S., Canada, and Europe. The Growth buyout group focuses on acquiring controlling interests in profitable middle-market healthcare companies. Their latest fund, Frazier Healthcare Growth Buyout Fund XI, closed at $2.3 billion in November 2024 and allocated 10% of that to a growth sleeve that is focused on minority investments in breakeven healthcare businesses. Frazier has shown a growing commitment to women's health. In May 2024, they appointed Maria Molland as an Executive in Residence to lead investment strategies focused on women's health and wellness, particularly tech-enabled products and services supporting women through their reproductive, post-partum, and mid-life journeys.
Tell us a bit about your background and your projects so far.
I am an accomplished executive, board member and investor with over two decades of experience at the intersection of health tech, consumer brands, and mission-driven innovation. I am currently an Executive in Residence at Frazier Healthcare Partners, where I focus on identifying and supporting investments in women’s health, particularly tech-enabled solutions for fertility, postpartum, and midlife care. I am best known for my transformative leadership at Thinx, where I served as CEO and led the company through a turnaround, cultural reset, and eventual acquisition by Kimberly-Clark in 2022.
How did you get into this industry? Has it been an easy industry to get into or have you had many challenges?
I entered the femtech industry in 2017 when I was appointed CEO of Thinx during a tumultuous period marked by leadership controversies and cultural challenges. Despite initial hesitations, I was a customer, and I loved the product, and I was drawn to the company's mission to destigmatize previously taboo topics like menstruation and incontinence and promote sustainable products that are good for the body and the world. My decision to take on the role was influenced by my personal experiences…a miscarriage late in term, ten rounds of fertility treatments, and a desire to use my business mind to make a meaningful impact in women's health.
How long did it take you to be where you are now? What was the biggest obstacle? What are the challenges of being in the industry you are in?
It took me approximately five years to lead Thinx from a crisis-ridden startup to a globally recognized brand. One of my biggest obstacles was building a global omnichannel brand with limited to no capital. We could not raise venture money as we were told the market was not big enough, so we had to bootstrap the business with some angel money and a small investment from the company’s manufacturer. Early on, we were laser-focused on unit economics because we were forced to be profitable. But in the end, this enabled us to build a business that grew profitably and had impressive metrics when it came to the acquisition and retention of customers. The challenges in the feminine health industry include overcoming societal taboos and a lack of data on women and outcomes, so it is tough to prove a product or a service, which makes it harder to sell to consumers, payors, and employers, as well as raise equity. Additional hurdles are navigating the regulatory landscape and educating consumers about new product categories. But there are success stories, so keep plugging away! Grit and determination are key!
What are your biggest achievements to date?
My significant achievements include revitalizing Thinx's brand and operations, scaling it into a global omnichannel brand with limited capital, and leading its acquisition by Kimberly-Clark in 2022. Under my leadership, Thinx expanded into major retailers like Target and Walmart, launched inclusive product lines such as Thinx (BTWN) for teens, and introduced more affordable options like "Thinx for All". I also prioritized product safety and transparency, setting industry standards for ingredient disclosure and third-party testing. Most importantly, I am very proud of how we achieved this success…we truly enjoyed the journey, even the rocky, low points, and I am so lucky to have worked with an incredible team. One of my proudest moments is seeing them all thrive not only at Thinx but also in roles post-Thinx.
What are the projects you are currently working on?
Currently, I am an Executive in Residence at the private equity firm Frazier Healthcare Partners. I lead our search for women’s health investments. I spend most of my time focused on tech-enabled product and service solutions for fertility, postpartum, and midlife care. My role involves sourcing, diligence, and leadership of new platform investments in the women's health sector.
Is the #WomenInTech movement important to you and if yes, why?
The #WomenInTech movement holds personal significance for me. Throughout my career, I have often been the only woman in executive rooms and I understand the importance of representation and mentorship. I am an advocate for policies that support women in the workplace, such as paid parental leave, childcare stipends, and flexible work arrangements, to create an environment where women can thrive in tech and leadership roles.
What will be the key trends in your industry in the next five years and where do you see them heading?
The future of women’s health over the next five years is being shaped by converging trends in technology (AI), demographics, personalized care, and shifting societal expectations. I anticipate that the next five years in women’s health will see a surge in tech-enabled women's health solutions and increased funding due to more exits and the fact that women-specific health needs are no longer considered niche. I expect deeper integration of femtech into mainstream healthcare systems, employer benefits (women are becoming more and more important to employers), and insurance networks. The healthcare market is also FINALLY catching up to the needs of the 50M+ women in the U.S. approaching or in menopause. This is shifting workplace wellness, insurance offerings, and even pharmaceutical R&D that will all be thinking about managing hormonal changes as being the key to keeping women healthier for longer. I also think women’s health will expand beyond reproductive health to whole woman holistic health, including cardiovascular health, autoimmune diseases, mental health, and metabolic health and how they are unique to women. And, advances in AI and wearables are enabling continuous, sex-specific data capture, and that will give us more precision diagnostics for endometriosis, postpartum depression, etc, and that will inform personalized treatment plans. The future is bright.
What is the most important piece of advice you could give to anyone who wants to start a career in this industry?
I advise aspiring professionals in the industry to remain resilient and mission-driven. There is also huge importance in aligning personal values with professional goals and embracing challenges as opportunities for growth. I have had my share of challenges in my life, and they have turned into opportunities for growth and strength. Building a supportive network and seeking mentorship are also key components of a successful career in this field.
Who are three inspirational women in your respective industry that you admire?
Dr. Vivian Pinn: She was the first full-time director of the NIH Office of Research on Women's Health, Dr. Pinn fundamentally changed the research landscape. She was instrumental in enforcing the NIH mandate that women and minorities be included in clinical trials, correcting decades of research bias.
Dr. Jill Biden: Dr Biden brought women’s health to the national stage. She helped launch a White House initiative on Women’s Health Research, focusing on historically overlooked areas like menopause, heart disease in women, and autoimmune diseases (which disproportionately affect women). In 2023, Dr. Biden and the White House launched a $100M+ public-private initiative to close the gender data gap in medical research and incentivize innovation in female-focused health R&D. The initiative has already prompted the NIH, philanthropic groups, and private investors to channel more resources into women-specific medical studies. And, she hasn’t stopped her efforts since leaving the White House…she just announced she has taken on a new leadership role as Chair of the Milken Institute’s Women’s Health Network, a global initiative launched in April 2025 to accelerate innovation, funding, and collaboration in women’s health research and care.
Connect with Maria on LinkedIn.
Find out more about Frazier Healthcare Partners on their website.
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