Hims & Hers Health, Inc. has announced its agreement to acquire Eucalyptus, a global leader in digital health, in a deal valued at up to $1.15 billion USD. Eucalyptus, known for its customer-first approach and clinical rigor, has served more than 775,000 customers and has an annual revenue run-rate north of $450 million USD. This acquisition is expected to accelerate Hims & Hers' vision of becoming the leading global consumer health platform.
Eucalyptus, which operates in Australia, the UK, and Germany with expanding operations in Japan and Canada, has shown triple-digit year-over-year annual revenue run-rate growth in each quarter of calendar year 2025. The company has a strong domestic margin profile and is operating within line of sight of profitability.
Following the acquisition, Tim Doyle, the current CEO of Eucalyptus, will become the SVP of International at Hims & Hers, overseeing the company’s international business. Hims & Hers anticipates that the combination of Eucalyptus’ capabilities with its own platform will make it possible for more people to access personalized care while maintaining high quality and safety standards.
The terms of the transaction have been structured to preserve the financial flexibility of Hims & Hers, ensuring continued control over balance sheet management and capital allocation. The company is prepared to finance most of the transaction with existing cash on hand and future operating cash flows from its US operations.
The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close during the middle of calendar year 2026. The market has reacted to these announcements by moving the company's shares 0.48% to a price of $31.38. If you want to know more, read the company's complete 8-K report here.
