Hims, a direct-to-consumer telemedicine startup, is close to securing a deal to go public through a merger with Oaktree Acquisition Corp, according to a Sept. 25 Bloomberg report.
1. People familiar with the deal told the publication that the deal could be announced within the next week and would place Hims’ value at around $1.6 billion.
2. Oaktree, a special purpose acquisition company, plans to raise about $75 million to help fund the merger transaction.
3. Hims launched in 2017 with a value of around $1.1 billion. The company offers men physician consultations through telehealth for health issues including hair loss. In 2018, Hims launched Hers, which offers women access to telehealth services including birth control pills.
4. Hims has raised $197 million from investors to date. In July, the telehealth company partnered with pop star Jeniffer Lopez and her fiance, former New York Yankees player Alex Rodriguez to promote Hims’ healthcare and mental health services among underserved communities.
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