Telehealth company Hims & Hers Health Inc. HIMS, +5.65% said late Monday it has agreed to buy London-based health platform Honest Health for an undisclosed amount. Honest Health offers hair loss-related products, including access to compounded products.
“The proposed transaction provides Hims & Hers with best-in-class operational capability and infrastructure to support the beginnings of the company’s long-term plans for expansion” across the U.K. and western Europe, Hims and Hers said in a statement. The deal is expected to close in the second fiscal quarter of this year, the company said. Shares of Hims and Hers fell 0.6% in the extended session Monday after ending the regular trading day up 5.7%. The stock began trading in January after a merger with a blank-check company.