Hims & Hers Health Inc (NYSE:HIMS) shares are trading higher Tuesday after the company announced an acceleration of its global expansion through the acquisition of ZAVA.
What Happened: Hims & Hers Health will acquire ZAVA, which operates a popular digital health platform in Europe. The acquisition will expand the company’s footprint in the United Kingdom and will mark its official entry into Germany, France and Ireland, with more markets anticipated soon.
Zava serves more than 1.3 million active customers and delivered close to 2.3 million in-house medical consultations last year. Hims & Hers plans to expand offerings in Europe by bringing personalized healthcare to new Zava members across dermatology, weight loss, sexual health and mental health.
“The demand for simpler, more personalized healthcare is universal. By leveraging ZAVA’s established European presence, cutting-edge technology, and deep customer understanding, we’re poised to fundamentally transform access to care for millions across Europe,” said Andrew Dudum, founder and CEO of Hims & Hers.
“Whether in rural towns, vibrant cities, or remote communities across Europe, people battling widespread, often silent chronic conditions like obesity, depression, and more will have access to the personalized, high-quality care they deserve.”
Hims & Hers said it expects the deal to be accretive by 2026. The acquisition is expected to close in the second half of 2025 and will be funded completely with cash from the company’s balance sheet. The company noted that it will share more about offerings and planned rollouts in the coming months.
HIMS Price Action: Hims & Hers Health shares were up 6.34% at $60.36 at the time of publication Tuesday, according to Benzinga Pro.
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