Hims & Hers To Expand UK Footprint, Acquire London-Based Honest Health
14 Junho 2021 - 5:33PM
Business Wire
Acquisition will further support Company’s mission of making
access to personalized health available to everyone; lay the
foundation for future expansion into UK & Europe; add best in
class distribution capabilities, including pharmaceutical
compounding
Hims & Hers Health, Inc., the multi-specialty telehealth
platform focused on providing modern personalized health and
wellness experiences to all consumers, today announced plans to
expand their UK footprint and acquire London-based vertical health
platform, Honest Health. 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. 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. Financial details of the transaction will not
be disclosed at this time.
“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.”
Honest Health, founded by Sam Gluck and Pavlo Maherovsky,
launched in November 2018 with Freshman, its next generation hair
loss virtual clinic for men.
“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.”
The deal is expected to close during the second fiscal quarter
of this year.
Forward Looking Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements can be identified by the
use of forward-looking terminology, including the words “believes,”
“estimates,” “anticipates,” “expects,” “intends,” “plans,” “may,”
“will,” “potential,” “projects,” “predicts,” “continue,” or
“should,” or, in each case, their negative or other variations or
comparable terminology. There can be no assurance that actual
results will not materially differ from expectations. Such
statements include, but are not limited to, any statements relating
to the Company’s expansion plans, the Company’s ability to
consummate the anticipated transaction, the ability of Honest
Health to distribute products outside the UK, and the anticipated
impacts of the transaction on the Company’s business. These
statements are based on management’s current expectations, but
actual results may differ materially due to various factors. By
their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future.
The forward-looking statements contained in this press release
are based on our current expectations and beliefs concerning future
developments and their potential effects on us. Future developments
affecting us may not be those that we have anticipated. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond our control) and other assumptions that
may cause actual results or performance to be materially different
from those expressed or implied by these forward-looking
statements. These risks and uncertainties include, but are not
limited to, risks associated with Honest Health’s ongoing
operations; the possibility that the acquisition will not occur;
the possibility that the expected benefits of the acquisition are
not realized when expected or at all; and consumer acceptance and
changes in demand for Honest Health’s and the Company's products,
as well as those factors described in the “Risk Factors” section of
the Company’s most recently filed Quarterly Report on Form 10-Q for
the three months ended March 31, 2021, and our subsequent filings
with the Securities and Exchange Commission.
Should one or more of these risks or uncertainties materialize,
or should any of our assumptions prove incorrect, actual results
may vary in material respects from those projected in these
forward-looking statements. We undertake no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
under applicable securities laws.
About Hims & Hers
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, D.C., Hims & Hers is able to provide access to
quality, convenient and affordable care for all Americans. Hims
& Hers was founded by CEO Andrew Dudum, Hilary Coles, Jack
Abraham and Joe Spector at venture studio Atomic in San Francisco,
California. LionTree Advisors served as exclusive financial advisor
to Hims & Hers. For more information about Hims & Hers,
please visit forhims.com and forhers.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210614005241/en/
Linda O'Connor press@forhims.com
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