WhatHims & Hers, a leading online health and wellness company, is shifting its business model after acquiring Novo, a mental health and wellness platform.
WhyThe acquisition aims to expand Hims & Hers' offerings and increase its presence in the mental health market.
SignalThe deal is valued at approximately **$1.6 billion**.
TargetHims & Hers plans to integrate Novo's services with its existing offerings, targeting a wider customer base.
RiskThe shift in business model may pose risks to Hims & Hers' existing customer base and revenue streams.