Hims & Hers Health has become a compelling acquisition target after its stock fell 51% over the past year to $30.82, giving it a $7.2 billion market cap despite 2.6 million subscribers. Amazon ranks as the cleanest fit among potential acquirers, with its pharmacy customer base doubling and a $3 trillion market cap that makes Hims a rounding error, though FTC scrutiny is a wildcard. Other possible suitors include UnitedHealth, CVS Health, and Pfizer, each facing integration or regulatory hurdles. CEO Andrew Dudum holds super-voting control and recently bought 155,000 shares, signaling no intent to sell, while the company is itself acquiring Eucalyptus in a deal expected to close mid-2026. Private equity could pursue a take-private given fiscal 2026 revenue guidance of $2.80 billion to $3.00 billion and adjusted EBITDA of $275 million to $350 million, but roughly $1 billion in convertible debt poses a leverage obstacle.
Hims Hers Health IncStock plunged 51%, market cap $7.2B, convertible debt poses leverage obstacle.
CVS Health Corp
Amazon.com IncMentioned as a potential acquirer, but no deal or concrete impact.
Pfizer Inc
UnitedHealth Group Incorporated