Hims & Hers rises on plans to acquire UK-based startup Zava
Shares of telehealth co Hims & Hers Health HIMS.N rise 5.9% to $60.14 premarket
Co says it will acquire London-based startup Zava for an undisclosed amount, allowing it to launch its offerings in Germany, France and Ireland
"Hims & Hers will establish its own branded presence, leveraging the robust ZAVA platform, in each of these European markets in the coming quarters"- HIMS
Co plans to fund the acquisition through cash on its balance sheet at closing; the deal is expected to close in the second half of this year
Zava provides medical consultations and delivery of prescription medicines - including weight loss drugs Mounjaro and Wegovy - to its more than 1 million customers across United Kingdom, Germany, France and Ireland
Up to last close stock more than doubled YTD
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