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Hims & Hers to Acquire London-Based Honest Health

June 25, 2021 BeautyMatter
June 25, 2021
National Cancer Institute via Unsplash

Hims & Hers Health, the multi-specialty telehealth platform, announced plans to expand their UK footprint and acquire London-based vertical health platform Honest Health.

WHO: Honest Health, founded by Sam Gluck and Pavlo Maherovsky, launched in November 2018 with Freshman, its next-generation hair loss virtual clinic for men. Honest Health offers consumers hair loss-related products, including access to compounded products, such as a topical Finasteride with Minoxidil solution when appropriate, through an exclusive relationship with the first UK compounding pharmacy and fulfillment center.

Hims & Hers is a multi-specialty telehealth platform that connects consumers to licensed healthcare professionals, enabling them to access high-quality medical care for numerous conditions related to primary care, mental health, sexual health, dermatology, and more. Launched in November 2017, the company also offers thoughtfully created and curated health and wellness products. With products and services available across all 50 states and Washington, DC, Hims & Hers is able to provide access to quality, convenient, and affordable care for all Americans.

WHY: The proposed transaction provides Hims & Hers with best-in-class operational capability and infrastructure to support the beginnings of the company’s long-term plans for expansion across the United Kingdom and Western Europe.

IN THEIR OWN WORDS: “Honest Health has demonstrated a powerful combination of leadership, passion and innovation in digital health—at scale—that will further elevate our ability to provide the Hims & Hers personalized healthcare experience to a new segment of consumers in the United Kingdom,” said Andrew Dudum, CEO and co-founder of Hims & Hers. “Adding Honest Health to our family not only perfectly aligns with our mission but also unlocks new category and geographic opportunities to even further accelerate growth. We are thrilled to have the Honest Health team join the Hims & Hers family.”

“Since launching Honest Health in the UK two and a half years ago, we have been dedicated to demolishing the obstacles standing between people and better health,” said Gluck. “We are excited to join the Hims & Hers team to take this mission of healthcare access and personalization for all to the next level.”

DETAILS:

  • Hims & Hers Health to acquire London-based vertical health platform Honest Health.
  • Financial details of the transaction were not disclosed at this time.
  • LionTree Advisors served as exclusive financial advisor to Hims & Hers. 
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