Hims & Hers agrees $1.15b acquisition of Australian digital health platform

Hims & Hers Health, a US-based health and wellness platform listed on the New York Stock Exchange, has entered into a definitive agreement to acquire Eucalyptus, an Australia-based international digital health company, in a transaction valued at up to $1.15 billion (€1.07 billion/£910 million). The acquisition will position Hims & Hers to expand into Australia and Japan whilst deepening its presence in the UK, Germany and Canada.

According to hims & hers, Eucalyptus is a consumer healthcare leader operating in Australia, the UK and Germany, with expanding new operations in Japan and Canada. The company operates several consumer brands including Juniper and Pilot, and has served more than 775,000 customers with a demonstrated track record of efficiently entering new markets.

Andrew Dudum, founder and chief executive of Hims & Hers, said: "Healthcare challenges are global, and so is the demand for simpler, transparent, and more personalized healthcare. But how that comes to life looks different for every region and every person. With Eucalyptus, we will not only enter new markets, we will expand our ability to serve customers globally, trusting local experts to be a key part of how we transform healthcare into a customer-first, personalized industry."

The transaction consists of approximately $240 million (€224 million/£190 million) payable in cash upon closing, with remaining consideration comprising guaranteed deferred payments over 18 months following closing and additional earnout payments tied to specified financial targets through early 2029. Hims & Hers has the option to settle the majority of deferred and earnout payments in cash or stock at its election.

Review the complete transaction announcement for details on integration plans and market expansion strategy.