23andMe to acquire telemedicine platform company Lemonaid Health for $400M in cash, stock

Client genetics and analysis agency 23andMe stated on Friday that it has signed an settlement to amass Lemonaid Well being, which gives on-line entry to a wide range of telemedicine and pharmacy providers, for $400 million in money and inventory.

Beneath the phrases of the deal, 23andMe will purchase San Francisco-based Lemonaid for $100 million in money and $300 million in frequent inventory. The transaction is predicted to shut by the tip of the 12 months.

“We consider that by combining Lemonaid Well being’s telemedicine platform, together with its on-line crew of medical professionals and its pharmacy providers, with our shopper enterprise, we’re taking an vital step in reworking the standard major care expertise and making personalised healthcare a actuality,” 23andMe cofounder and CEO Anne Wojcicki stated in an announcement. “By beginning with genetics as the muse, we are going to give sufferers and healthcare suppliers higher details about well being dangers and coverings, opening up the door to forestall in addition to higher handle illness.”

In August, newly public Sunnyvale, California-based 23andMe reported a 23 % improve in first quarter revenues on sturdy gross sales of its Private Genome Service package, which makes use of genotyping to detect clinically related variants in genomic DNA from saliva samples.

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