California-based telehealth company Hims & Hers will pay more than $1.6 billion for Eucalyptus’ Australian, UK, Japanese and Canadian online clinics.
Controversial US-based telehealth behemoth Hims & Hers announced overnight that it has acquired Australia’s Eucalyptus group in its entirety, gobbling up its 775,000-strong customer base in the process.
The sale is worth $1.6 billion (USD$1.15 billion), and Eucalyptus co-founder Tim Doyle will stay on as the senior vice-president of international at Hims & Hers, which operates in the US, UK, Germany, and Canada already.
“By joining Hims & Hers, we will help more people globally believe in the future of healthcare: simple, high-quality, personal, and designed to help prevent disease, instead of merely treating it,” Mr Doyle said.
“We’ve spent seven years helping customers around the world find the care that fits them, and we believe today’s news will be part of accelerating the movement towards affordable healthcare for everyone that feels like a luxury.”
On LinkedIn Mr Doyle said Hims & Hers, which also uses a direct-to-consumer healthcare model, had helped inspire Eucalyptus and called the acquisition a “full circle” moment.
“As we look forward, this patients-first era of healthcare is only accelerating,” he wrote.
“It’s become abundantly clear that in the future, patients will have a relationship with one or many digital clinics where they understand their own health data through regular tracking and diagnostics, use that information to interact with a variety of practitioners, and then take action across a wide range of their healthcare decisions.”
Eucalyptus clinical director Dr Matt Vickers told The Medical Republic that the “Australian business will continue to focus on Australian patients, while seeking to integrate with and strengthen the local healthcare system”.
TMR understands that there will be little change to Eucalyptus-owned clinic platforms from a technology standpoint.
Despite its initial reputation as a cowboy operator, telehealth clinical governance has been an increasing focus for Eucalyptus over recent years.
In 2025, it launched a set of best practice principles for online telehealth providers in Australia.
This contained best practice guidelines for data protection and security, including vulnerability management, system monitoring and strict access control.
“Eucalyptus will continue to be a leader in clinical governance and set the standard for safety and quality in the telehealth sector, while strengthening integration with the public health system,” Dr Vickers said.
“It will also maintain its work with the Australian Telehealth Standards Consortium, whose industry standards document will be launched next month.”
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The Eucalyptus stable of clinics – Pilot, Kin Fertility, Software, Juniper and Compound – are all entirely online. Patients and their doctors never meet face-to-face.
It operates as an entirely private model, outside of the MBS, meaning that patients pay for all consults entirely out of pocket.
While it initially rose to prominence for its online fertility service, Eucalyptus has become most well-known for its involvement with new-generation GLP-1 RA weight loss drugs.
During the worst of the GLP-1 RA supply shortages in 2023 and 2024, the telehealth company partnered with compounding pharmacies to provide a compounded semaglutide product to its patients.
In early 2024 Ozempic sponsor Novo Nordisk took concerns about the compounding practice to the TGA.
Later that year, following revelations about the unsanitary conditions of some compounding pharmacies, the TGA instituted a ban on compounding GLP-1 RAs entirely.
These pharmacies were not alleged to be connected to Eucalyptus’ operations.
Like Eucalyptus, Hims & Hers is primarily known as a big player in the weight-loss drug prescribing space.
It has also dipped a toe into compounding. Earlier this month it launched a compounded version of Novo Nordisk’s GLP-1 RA oral semaglutide formulation, at a price point $140 (USD$100) less than the Novo Nordisk version.
Novo Nordisk was quick to respond, calling it “illegal mass compounding and deceptive advertising” of an “inauthentic, and untested knockoff”.
Within the week, the US Department of Health and Human Services had asked the Department of Justice to investigate Hims & Hers and the FDA announced it would take action against compounded GLP-1 RAs.
Just days after launching the compounded product, Hims & Hers said it would “stop offering access” to the treatment.
