Hims & Hers to Expand Network

Hims & Hers Health (NYSE:HIMS) announced Tuesday it will acquire European telehealth platform Zava in its push to expand globally.

“We’re excited to take this moment to really accelerate both the European expansion, but also use this platform as an accelerant as we move into more markets,” Hims & Hers CEO Andrew Dudum told the media.

The deal is set to close by mid-year, according to the company’s press release. While terms of the acquisition were not disclosed, the company said details of the transaction will be available in financial disclosures at closing.

Dudum spoke at length during the company’s first-quarter earnings call in mid-May about the company’s commitment to global expansion.

“Early traction in the UK gives us confidence that we can scale out platform globally and extend out mission to help people around the world,” Dudum said at the time.

Hims first expanded its global footprint to the United Kingdom in 2021 when it acquired London-based vertical health platform Honest Health.

The deal to acquire Zava will expand the company’s services to Ireland, France and Germany and will grow its active customer base by roughly 50%, adding 1.3 million customers to Hims’ existing base of 2.4 million subscribers.

Zava CEO David Meinertz, who launched the platform in 2011, said the deal will provide relief to an otherwise overwhelmed European healthcare system.

HIMS shares began Tuesday sharply $3.76, or 6.6%, to $60.52.