Hims & Hers

The company upped its revenue expectations for 2021 following the first quarter’s results.   

The telehealth brand's annual revenue increased 80% YoY to $148.8 million in 2020, although its quarterly YoY growth dipped in Q4 compared to the months prior.

The deal has brought the consumer telehealth and wellness company approximately $280 million in proceeds that it will use to grow and invest in new product categories.

The company also announced $44.13 million in revenue in Q3. 

The newly announced deal is expected to close in Q4 2020, and values the direct-to-consumer telehealth company's combined entity at $1.6 billion.

COVID-19 has made it clear that state-by-state licensure and other roadblocks to telehealth delivery should be left in the past, write Hims & Hers CEO Andrew Dudum and Health Innovation Alliance Executive Director Joel White.

Also: VillageMD's new chief innovation officer, and Hims & Hers brings on behavioral health expertise.

Virtual primary care customers living in specific regions will have the option to use Alto's app and services at no additional cost.