Eucalyptus Acquired by Hims & Hers — Healthcare M&A

Hims & Hers has acquired Eucalyptus, a healthcare it business in Australia, for $1.15 billion. Eucalyptus is a telehealth platform that supports patient care and digital health delivery, fitting Hims & Hers’ healthcare services strategy and expanding its healthcare IT capabilities. The Hims & Hers acquisitions add scale to its healthcare M&A agenda through a strategic acquisition and merger acquisition structure. Announced as a strategic acquisition worth up to USD1.15 billion, the healthcare M&A deal is expected to drive one of Australia’s largest staff equity payouts, with advisers including Barrenjoey and Goldman Sachs, plus legal and accounting support from MinterEllison and PwC.