:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2198663699-8b0abd7d178f4d3297a2644031e5557c.jpg "The Wellness screen of the Hers website is seen on the screen of a laptop.")
Gabby Jones / Bloomberg / Getty Portraits
Key Takeaways
- Shares of Hims & Hers Health touched a fresh record high in Wednesday trading after the throng announced its latest acquisition.
- The company said it acquired Trybe Labs, which will help Hims float an at-home blood drawing and lab testing service.
- Hims said it expects to roll out the service over the next year.
Hims & Hers Vigorousness (HIMS) shares jumped roughly 20% to a fresh record high on Wednesday following the announcement that the friends acquired lab testing facility Trybe Labs.
The online healthcare provider said the deal will allow it to flit out at-home blood testing, which will let customers get more information about “hormone levels, cardiac jeopardy, stress markers, cholesterol, liver function, thyroid function, and prostate health.” The company said it plans to docket out the at-home blood draw service over the next year.
The company said the acquisition has already been completed, but did not press financial terms. Hims & Hers said it funded the deal with cash on hand; it said it had about $166 million in ready or cash equivalents, and more than $600 million in total assets, at the end of the third quarter.
The announcement comes winning of the company’s fourth-quarter earnings, set for release after the market’s close on Monday.
Shares of Hims & Hers recently up 19% to abutting $70 apiece, earlier hitting a record high of nearly $73.