Hims & Hers Health (NYSE: HIMS) stock surged about 20% on Wednesday following the announcement of its acquisition of Trybe Labs, an at-home lab testing facility. This strategic move aims to introduce at-home lab testing capabilities to the Hims & Hers platform, enhancing personalized care and treatment options for customers.
The acquisition of Trybe Labs, branded as Sigmund NJ LLC, allows Hims & Hers to offer comprehensive whole-body testing, including at-home blood draws. This addition will empower healthcare providers with more data and biomarkers, improving clinical decision-making. The company plans to use the technology to detect early signs of disease and offer personalized treatments in clinical categories such as low testosterone and menopause-related symptoms.
Hims & Hers Health (NYSE: HIMS) will utilize a blood lancet for its new at-home lab tests, a less invasive alternative to traditional needles and dried blood spot cards. The service will enable customers to gain insights into various health markers, including hormone levels, cardiac risk, cholesterol, liver and thyroid function, and prostate health. The data gathered from these tests will also fuel advancements in the company’s AI-powered health platform, MedMatch, which aims to offer affordable, high-quality care based on individual needs.
While the financial details of the acquisition remain undisclosed, Hims & Hers confirmed that the deal was funded using cash on hand. The company expects to roll out its at-home lab testing services over the next year.
