By Chris Wack
Hims & Hers Health shares reached another all-time high after the company said it plans to introduce at-home lab testing through its platform after buying an at-home testing facility, Sigmund NJ.
The stock was up 15% to $67.28 in Tuesday morning trading, after touching an all-time high of $70.50. Shares of Hims & Hers have been setting new all-time highs in the past month, and have more than doubled in price in that time. The stock has risen more than seven-fold in the last year.
The health and wellness platform said buying Sigmund NJ, marketed as Trybe Labs, will allow it to support at-home blood draws and more comprehensive whole body testing.
The tests will allow customers to access a wider amount of data and biomarkers that can help identify the risk of disease before it develops, allowing for more precise clinical decision-making, Hims & Hers said.
Hims & Hers funded the acquisition through cash on hand. The acquisition is complete, and Hims & Hers expects to roll out at-home testing to customers in the next year.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 19, 2025 11:03 ET (16:03 GMT)
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