Hims & Hers Deepens Dermatology Investment, Acquires Apostrophe
24 Junho 2021 - 9:57AM
Business Wire
Acquisition will accelerate the Company’s scale
in dermatology and fulfillment capabilities with fully-owned
pharmacy; further supporting the Company’s mission of making access
to some of the most sophisticated and personalized health available
to everyone
Hims & Hers Health, Inc. (“Hims & Hers”, NYSE: HIMS),
the multi-specialty telehealth platform focused on providing modern
personalized health and wellness experiences to consumers, today
announced its intentions to acquire teledermatology specialist,
Apostrophe, as part of the Company's ongoing excellence-based
category expansion. Financial details of the transaction will not
be disclosed at this time.
“Personalized dermatology has become increasingly of interest to
our consumers,” said Andrew Dudum, CEO and co-founder of Hims &
Hers. “In the seven years since its founding, Apostrophe has built
a brand that, like Hims & Hers, has attracted and heavily
engaged GenZ and Millennial consumers. With this investment, we
will accelerate our dermatology business, offering highly
personalized dermatology treatments at scale. We are excited to
welcome the Apostrophe team to the Hims & Hers family.”
Apostrophe has created a clinical platform that powers bespoke
treatment plans that include some of the most sophisticated,
personalized combinations of topical formulas and oral medications
fulfilled by the affiliated Apostrophe pharmacy, which is currently
licensed to fulfill orders in 29 states. This compounding
infrastructure, combined with their best-in-class dermatology
capabilities, will expand Hims & Hers’ ability to provide
consumers with some of the most advanced and personalized
dermatology treatments, faster and at scale.
“We started Apostrophe to serve the millions of people who want
access to board-certified dermatologists and personalized
prescription medication,” said Ben Holber, CEO and co-founder of
Apostrophe. “Joining a world-class organization like Hims &
Hers, will now allow us to help patients, at scale, improve their
skin health.”
The entire Apostrophe leadership and team, which includes
world-class dermatology experts, is expected to join Hims &
Hers to help run the company’s growing dermatology business line.
Apostrophe CEO and co-founder Ben Holber will become CEO of the
Hims & Hers dermatology business line, reporting directly to
Hims & Hers Chief Operating Officer Melissa Baird.
The deal is expected to close during the third fiscal quarter of
this year.
LionTree Advisors served as exclusive financial advisor and
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP
acted as legal advisor to Hims & Hers.
Intrepid Investment Bankers LLC acted as exclusive financial
advisor, and Venable LLP acted as legal advisor to Apostrophe.
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 [Hims & Hers’ expansion plans,[EMV1] ] Hims & Hers’
ability to consummate the anticipated transaction and the
anticipated impacts of the transaction on Hims & Hers’
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 Apostrophe’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; Hims & Hers’ ability to
integrate the Apostrophe team into its business; and consumer
acceptance and changes in demand for Apostrophe’s and Hims &
Hers’ products, as well as those factors described in the “Risk
Factors” and other sections of Hims & Hers’ most recent Annual
Report on Form 10-K, most recent Quarterly Report on Form 10-Q and
other current and periodic reports we file from time to time 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. 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/20210624005569/en/
Linda O'Connor press@forhims.com
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