Hims to buy telehealth firm Eucalyptus as it expands internationally

Andrew Joseph covers health, medicine, and the biopharma industry in Europe. You can reach Andrew on Signal at drewqjoseph.71.

LONDON — The telehelath platform Hims & Hers is looking to expand internationally, announcing Thursday that it was buying the Australian digital health company Eucalyptus. 

Hims framed the deal, which includes a $240 million up-front cash payment, as one that would allow it to make further inroads in the U.K., Germany, and Canada and move into Australia and Japan. The total value of the acquisition could reach $1.15 billion if certain financial targets are hit over the next several years. The deal is expected to close in the middle of the year. 

Hims, which in the U.S. offers patients everything from compounded obesity drugs to, as of this month, a cancer screening test, said buying Eucalyptus would expand its personalized offerings to more customers globally. 

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