After US telehealth company Hims & Hers agreed to buy Australian digital health startup Eucalyptus, more than 100 current and former employees are set to receive a sizable windfall from staff equity.
According to the Australian Financial Review, employee holdings under Eucalyptus share scheme, excluding the founders are valued at approximately $300 million.
This implies that participating workers will receive an average payout of about $420,000 after the transaction is finalized.
Individual grants, vesting terms and the final purchase consideration will all affect the final amounts.
On February 19, Hims & Hers, a company listed on the New York Stock Exchange, declared that it had finalized a deal to purchase Eucalyptus for a maximum price of US $1.15 billion.
The headline value is approximately $1.6 billion. According to Hims & Hers, about US $240 million will be paid in cash at closing, with the remaining amount consisting of earnouts and deferred payments linked to financial goals through early 2029.
Subject to regulatory clearances and other standard requirements, the deal is anticipated to close in the middle of 2026.
Established seven years ago, Eucalyptus runs telehealth brands such as Pilot and Juniper providing online consultations and treatment for conditions like sexual health, weight management and hair loss.
It also manages Kin, a fertility program. With more recent ventures in Canada and Japan the company is active in Australia, the UK and Germany.
In the same announcement, Tim Doyle co founder and CEO of Eucalyptus stated, “By joining Hims & Hers we will help more people worldwide believe in the future of healthcare simple, high quality, personal and designed to help prevent disease.”
After completing, Doyle is anticipated to join Hims & Hers as senior vice president of international, where he will be in charge of the combined group’s offshore operations.
