Willow, a San Francisco-based startup known for its wearable breast pumps, has acquired Elvie, a UK femtech pioneer entering administration. This merger comes amid a challenging market for women's health startups, which have raised over $5 billion in funding over five years but are now facing significant headwinds. Elvie, which raised $186 million, struggled to maintain its valuation and operations. Willow aims to capitalize on this acquisition to create a broader platform amid dwindling exit opportunities in the femtech sector. The deal reflects ongoing consolidation trends in the industry as both companies adapt to market pressures.