Hims & Hers will acquire teledermatology specialist Apostrophe, per a brand announcement. Details of the transaction were not disclosed. The deal is expected to close during the third fiscal quarter of this year.
Apostrophe has created a clinical platform that provides bespoke treatment plans that include topical formulas and oral medications fulfilled by the affiliated Apostrophe pharmacy, which is currently licensed to fulfill orders in 29 states.
This deal will expand Hims & Hers’ ability to provide advanced and personalized dermatology treatments, faster and at scale, per the company.
Apostrophe CEO and co-founder Ben Holber will become CEO of the Hims & Hers dermatology business line, reporting directly to Hims & Hers chief operating officer Melissa Baird.
Andrew Dudum, CEO and co-founder of Hims & Hers, said: "Personalized dermatology has become increasingly of interest to our consumers. In the seven years since its founding, Apostrophe has built a brand that, like Hims & Hers, has attracted and heavily engaged Gen Z and millennial consumers. With this investment, we will accelerate our dermatology business, offering highly personalized dermatology treatments at scale. We are excited to welcome the Apostrophe team to the Hims & Hers family.”
Holber said: "We started Apostrophe to serve the millions of people who want access to board-certified dermatologists and personalized prescription medication. Joining a world-class organization like Hims & Hers, will now allow us to help patients, at scale, improve their skin health.”