Hims & Hers operates with a direct-to-consumer model. Consumers consult licensed healthcare professionals and access treatments and products through the company's platform. Customers pay for a consultation with a doctor to prescribe the drug along with the price of the drug itself. The company has expanded its offerings to include health solutions for both men and women, along with mental health services.
Founding, expansion, and public offering
Hims Inc. was established in 2017 by Jack Abraham, Andrew Dudum and Hilary Coles as a part of the Atomic Labs portfolio.[7][1] In January 2019, Hims raised $100 million in a Series C funding round with a pre-money valuation of $1 billion.[8][9] In the same month, Hims was launched in the United Kingdom with a catalogue limited by European regulation.[10]
Public offering
In October 2020, Hims closed a deal with Oaktree Capital Management to go public through a blank check company, reaching a valuation of $1.6 billion.[7] As part of the deal, the company was renamed Hims & Hers Health Inc.[11] The transaction was completed in January 2021, and the company started trading publicly on the New York Stock Exchange.[3]
In 2024, Hims announced it would add compounded GLP-1 injections to its product portfolio, giving customers a way to access weight loss treatment. Hims claims to be able to provide them cheaper and with greater availability. However, unlike the brand name treatments, these compounded drugs are not reviewed by the FDA for safety. [16]
