The Hims logo organized a smartphone in New York, in the United States on Wednesday, February 12, 2025.
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Hims & His Health Announced Tuesday that it acquires the European TV platform Zava in its thrust to develop on a global scale.
“We are delighted to take this moment to really accelerate both European expansion, but also to use this platform as an accelerator when we enter more markets,” CEO of Hims & Hers, Andrew Dudum, CNBC in an interview.
The agreement should be concluded by the middle of the year, according to the company's press release. Although the conditions of the acquisition were not disclosed, the company said that the details of the transaction will be available in financial disclosure at the end.
DUDUM spoke at length when calling on the results of the company's first quarter in mid-May of the company's commitment to global expansion.
“Early traction in the United Kingdom gives us confidence that we can evolve the platform on a global scale and extend the mission to help people around the world,” said Dudum at the time.
Hims extended its world footprint for the first time in the United Kingdom in 2021 when it acquired the vertical health platform based in London Honest Health.
The agreement to acquire Zava will expand business services in Ireland, France and Germany and increase its active customers by around 50%, adding 1.3 million customers at the existing Hims of 2.4 million subscribers.
Zava CEO David Meinertz, who launched the platform in 2011, said the agreement will bring relief to a European health system that is otherwise exceeded.
“Medicines are a more competitive price than in the United States so that more people can afford it and we see a huge demand,” said Meinertz. “Demand increases with additional strains on statutory systems that telehealth can mitigate.”
In the EU, the statutory health system generally refers to health insurance and health care provision systems funded by the State within individual member states. These systems are universal, offering complete coverage to citizens and residents, although access and coverage can vary.
After the closing of the acquisition, the Zava platforms will keep their brand image for a “few quarters” before being renamed like Hims & Hers, said Dudum. Meinertz will become general manager of the international company.
Dudum noted that if some companies retreat or retain growth prospects given macroeconomic uncertainty, he has fully confidence that advancing it is the right decision.
“The price of pharmaceutical products is much more advantageous for consumers in larger Europe compared to the United States,” said Dudum. “The ability to provide accessible and personalized treatments to customers abroad can be equal or easier than what we see at the national level, it is given that the prices and complexities of insurance and insurance [pharmacy benefit managers] And the pricing power that exists here. “”