Hims & Hers Health, Inc. (HIMS) is officially going international, and the San Francisco-based telehealth company is making some noise about it. Shares jumped Thursday morning following the announcement that it's now serving customers in Canada after wrapping up its acquisition of Livewell, a Canadian digital health platform specializing in weight loss treatments.
This isn't just about planting a flag north of the border. The company is positioning the move as a strategic response to what CEO Andrew Dudum called "critical public health needs, particularly around the obesity crisis." The plan is to use Livewell as a launching pad for a full-scale weight loss program rollout in Canada by 2026, expanding Hims & Hers' footprint across the U.S., Europe, and now Canada.
"This serves as a fundamental next step in delivering on our core promise: to democratize access to personalized, high-quality care," Dudum said. "We are charting a path toward bringing the trusted Hims & Hers experience to more and more global markets over the coming years."
The Livewell deal was an all-cash transaction, and the company has plenty of firepower to make it happen. As of September 30, Hims & Hers was sitting on approximately $345.78 million in cash and cash equivalents.
But Wait, There's More
This week also brought news of another acquisition, this one a bit more sci-fi. Hims & Hers is buying YourBio Health, a Boston-based company developing painless blood sampling technology. We're talking micro-needles thinner than an eyelash, according to YourBio's Chief Scientific Officer Michael Mina.
The two companies have already signed a definitive agreement, and both Mina and YourBio CEO Paul Owen will be joining the Hims & Hers team. The deal is expected to close early next year, also funded with cash, though the specific amount wasn't disclosed.
What the Charts Say
Technically speaking, HIMS is sending mixed signals. The stock is trading 1.8% above its 20-day simple moving average, which sounds positive until you notice it's sitting well below its 50-day, 100-day, and 200-day SMAs. That's generally a bearish configuration.
The Relative Strength Index is hanging out at 41.07, which puts it in neutral territory, while the MACD is below its signal line, suggesting bearish pressure. That said, there's a slight bullish divergence showing up in the chart. Key support sits at $34.00, and if that level cracks, things could get uglier. On the upside, resistance at $40.00 will be the level to watch for any meaningful recovery.
At the time of publication Thursday, shares were up 4.75%, trading at $38.84.
