US telehealth platform Hims acquires European rival Zava for undisclosed sum in international expansion push
Digital health company Hims & Hers has agreed to purchase London-based startup Zava, expanding its services into Germany, France and Ireland whilst strengthening its UK presence.
The acquisition will add approximately 1.3 million customers to Hims’ existing base of 2.4 million subscribers, representing a roughly 50 per cent increase in its active customer base.
Financial terms of the deal were not disclosed, though the company said details will be shared with its second-quarter results expected in August.
The move comes as San Francisco-based Hims & Hers adjusts to regulatory changes in the United States, where manufacturing copies of Novo Nordisk’s weight-loss drug Wegovy was banned on 22 May.
The company had offered copies of the drug during shortages of the branded version and saw revenue growth as a result.
Backed by equity firm HPE Growth, Zava provides medical consultations and delivery of prescription medicines – including weight-loss drugs Mounjaro and Wegovy – to customers across the UK, Germany, France and Ireland.
The platform has delivered nearly 2.3 million consultations in 2024.
Hims & Hers chief executive Andrew Dudum told CNBC: “We’re excited to take this moment to really accelerate both the European expansion, but also use this platform as an accelerant as we move into more markets.”
The deal is expected to close in the second half of this year, funded through cash on Hims’ balance sheet.
Following completion, Zava platforms will maintain their branding for several quarters before being rebranded as Hims & Hers, according to Dudum.
Zava’s chief executive David Meinertz, who launched the platform in 2011, will become general manager of the international business.
He suggested the acquisition could help address pressures on European healthcare systems.
Meinertz said: “The medications are priced more competitively than in the US so more people can actually afford it and we are seeing a huge demand.
“The demand is increasing with additional strains on the statutory systems that telehealth can alleviate.”
Hims plans to introduce personalised skincare, weight loss and other services in the new markets, with healthcare providers available to interact with patients in local languages including British, German and French.
The acquisition follows Hims’ previous international expansion when it acquired London-based Honest Health in 2021 to enter the UK market.
The company recently entered into an agreement with Novo Nordisk to help patients access brand-name Wegovy and plans to enter markets for low testosterone and menopause treatments.
Last week, Hims announced it would cut approximately 4 per cent of its workforce whilst continuing to hire for roles related to its long-term growth strategy.
The company’s shares rose 6.15 per cent to US$60.26 in premarket trading following the acquisition announcement, though they had dropped nearly 9 per cent in the preceding two weeks.
