Hims & Hers Health has agreed to acquire Eucalyptus in a deal valued at up to $1.15 billion, a move that would broaden Hims & Hers’ footprint across international telehealth markets. Eucalyptus operates consumer health brands including Juniper and Pilot and has served more than 775,000 customers, with established businesses in Australia, the UK, and Germany and newer operations in Japan and Canada. Hims & Hers CEO Andrew Dudum said the company’s next phase depends on pairing its U.S. playbook with regional expertise: “We’ve shown the difference that makes in the US, and the logical next step is working with more international experts to make that difference abroad.”
Eucalyptus brings scale and a track record of entering regulated markets, reporting an annual revenue run-rate north of $450 million and triple-digit year-over-year ARR growth in each quarter of calendar year 2025, while operating within “line of sight of profitability.” After closing, Eucalyptus CEO Tim Doyle will become SVP of International at Hims & Hers, and said the combined company can expand access to care that feels simpler and more personal: “By joining Hims & Hers, we will help more people globally believe in the future of healthcare: simple, high-quality, personal.”
The transaction includes about $240 million in cash at close, with the remainder paid through deferred and earnout payments tied to targets through early 2029; Hims & Hers said it expects to fund most of the deal with cash on hand and operating cash flow. The acquisition is expected to close mid-2026, subject to regulatory approvals.
