🚨 Ep 34 - HIMS ACQUIRES ZAVA, EXPANDS INTO EUROPE
Description
In Episode 34 of Hims House, Jonathan Stern and Patrick Lester (aka Bayside) break down HIMS' acquisition of European telehealth company ZAVA. They dig into ZAVA’s 2023 financials — £20M revenue, 74% gross margins, and a reduction in net loss from £8M to £320K. The hosts debate how much HIMS likely paid, speculate on the strategic rationale, and analyze early market reactions. Bayside lays out his bullish case, and they discuss how much this is about instant regulatory access to top EU markets (UK, Germany, France, Ireland). They discuss the likely role of board member Anja Manuel in helping navigate expansion and if Hims can bring its marketing engine to Europe despite advertising restrictions. The conversation also touches on insurance, manufacturing, and implications for future M&A and a potential Lilly partnership.
00:00 Introduction
00:56 Financial overview of ZAVA
02:34 Stock price reaction
03:11 Bayside "extremely bullish"
04:34 The logic of the deal
07:54 Board member insights
08:59 Discussion on financials and trust
13:12 Speculation on deal size
14:41 Other acquisitions still to come?
16:25 Insurance
19:15 Pharma advertising in Europe
20:44 Google Trends and Market Growth
25:53 Questions around operations & manufacturing
28:26 Short interest dynamics post-deal
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