Hims & Hers Completes Acquisition of Apostrophe
Hims & Hers Health, Inc. (NYSE: HIMS) has finalized its acquisition of Apostrophe, a teledermatology specialist. This strategic move aims to enhance the company's telehealth offerings, providing advanced, personalized dermatology treatments to consumers. The acquisition will strengthen Hims & Hers' dermatology business, with Apostrophe's team and its CEO, Ben Holber, joining Hims & Hers to lead this segment. The financial terms of the deal were not disclosed, but it reflects the company’s commitment to expand its healthcare services.
- Acquisition of Apostrophe enhances Hims & Hers' dermatology offerings.
- Increased access to advanced, personalized dermatology treatments.
- Apostrophe's experienced team will bolster operational capabilities.
- Integration challenges may arise from merging businesses.
- Uncertainty in achieving expected benefits from the acquisition.
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 it has finalized the acquisition of teledermatology specialist, Apostrophe. With this closing, Hims & Hers will expand its ability to provide consumers with some of the most advanced and personalized dermatology treatments, faster and at scale.
“Today begins a new chapter of clearer, healthier skin for consumers,” said Andrew Dudum, Chief Executive Officer and co-founder of Hims & Hers. “The future of dermatology is in providing highly personalized products that fit consumers’ needs. With this acquisition, Hims & Hers gains a trusted partner with expertise in charting this new future, as well as a leadership team that will help take our dermatology business to the next level. We are thrilled to be joining forces with the Apostrophe team and working together to help more people access high quality, personalized products to improve their skin through our platform.”
As previously announced, the entire Apostrophe team, which includes world-class dermatology experts, will be joining Hims & Hers to help run the company’s growing dermatology business line. Apostrophe Chief Executive Officer 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.
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, 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 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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FAQ
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