SYDNEY - Hims & Hers Health, Inc. announced today it has completed its acquisition of Eucalyptus, marking the company’s entry into the Australian market, according to a press release statement.
Eucalyptus is the parent company of healthcare brands Juniper, Pilot, Kin, and Software. The company has served over 550,000 Australians since 2019, offering services in weight management, reproductive care, and men’s sexual health.
The acquisition brings Eucalyptus’s portfolio under Hims & Hers’ platform. Customers currently receiving care through Eucalyptus brands will continue their treatment without interruption. The company stated that Australian providers will continue to deliver care to customers.
"Australians are among the most health-conscious consumers in the world, and Eucalyptus has already begun redefining what healthcare access can look like," said Andrew Dudum, co-founder and CEO of Hims & Hers.
Tim Doyle, Senior Vice President of International at Hims & Hers and former CEO of Eucalyptus, stated, "We built Eucalyptus in Australia because we believed Australians deserved better. More personalised, more proactive, more accessible care."
Eucalyptus has facilitated nearly two million consultations across Australia, the UK, Germany, Japan, and Canada. The company is the first telehealth provider in Australia accredited by the Australian Council on Healthcare Standards against the EQuIP6 standards.
Hims & Hers describes itself as a health and wellness platform. The company did not disclose financial terms of the acquisition.
In other recent news, Hims & Hers Health has issued $402.5 million in convertible senior notes due in 2032. This move was part of a private offering to qualified institutional buyers, with Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC acting as representatives. The company also allowed an option to purchase an additional $52.5 million of notes, which was fully exercised. Additionally, Hims & Hers Health announced the expansion of its benefits program by adding eight new partners, including Natural Cycles, MyFitnessPal, and HelloFresh, among others. This expansion brings the total to ten companies offering various services in nutrition, fitness, and wellness. On the analyst front, Truist Securities raised its price target for Hims & Hers Health stock to $23.00, citing insights from the company’s first-quarter fiscal 2026 earnings call. Conversely, BofA Securities lowered its price target to $25, expressing concerns about the company’s 2026 revenue guidance. The company also reported insider buying activity, with Director David B. Wells purchasing 48,400 shares of Class A Common Stock.
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