$HIMS (-1,33%) announced on Tuesday that the company plans to acquire ZAVA, a European platform for digital health services, to accelerate its international expansion.
Financial details of the transaction were not disclosed.
The company said the acquisition would mark its official entry into the UK, Germany, France and Ireland, with other markets to follow.
By leveraging ZAVA's infrastructure, Hims & Hers aims to launch its own branded services in these countries, offering personalized care in the areas of dermatology, weight loss, sexual health and mental health.
The acquisition, which is expected to be profitable by 2026, will be fully funded from the company's cash reserves and is expected to close in the second half of 2025, it added.
