Hims & Hers acquires Australian telehealth firm Eucalyptus for up to $1.15B

Hims & Hers acquires Australian telehealth firm Eucalyptus

Telehealth company Hims & Hers is acquiring Australian digital health firm Eucalyptus. The deal, announced Thursday, is a major step in Hims & Hers' plan to expand its international footprint.

The acquisition includes an up-front cash payment of $240 million. The total value could reach $1.15 billion if Eucalyptus hits certain financial targets over the next several years.

The deal opens new markets for Hims

Hims & Hers says the purchase will accelerate its growth in the U.K., Germany, and Canada. It will also give the company an immediate entry into the Australian and Japanese markets.

The deal is expected to close in the middle of this year. Hims & Hers is a publicly traded company known in the U.S. for offering a wide range of telehealth services.

Hims aims to expand personalized health offerings

The company stated that buying Eucalyptus will allow it to bring more personalized health products to a global customer base. Eucalyptus operates several direct-to-consumer telehealth brands in its markets.

Hims & Hers' current U.S. offerings include:

• Compounded obesity medications
• Hair loss and skincare treatments
• A multi-cancer early detection test, which it began offering this month

This acquisition represents a significant consolidation in the global digital health sector, as major players seek to scale their operations across borders.