DNA testing firm 23andMe Holding said on Friday it would buy privately held company Lemonaid Health for $400 million in a cash-and-stock deal, as it looks to expand into telemedicine.
According to Reuters, Lemonaid Health offers patients direct online access for a number of common conditions, from consultation through treatment. It also offers free and fast delivery of prescription medications.
“By starting with genetics as the foundation, we will give patients and healthcare providers better information about health risks and treatment,” 23andMe Chief Executive Officer Anne Wojcicki said in a statement.
Sunnyvale, California-based 23andMe is known for its genetic ancestry tests but also aims to develop treatments for diseases such as cancer and respiratory disorders.
The company said it would pay 25% of the total deal value in cash and the rest in shares.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Turkey Fines Meta $10.4 Million for Abusing Market Dominance
May 6, 2024 by
CPI
Canadian Watchdog Launches Inquiry into Lululemon’s Greenwashing Practices
May 6, 2024 by
CPI
Massachusetts Supreme Court Deliberates Ballot Redefining Gig Worker Status
May 6, 2024 by
CPI
European Commission Approves Nippon Steel’s $14.9 Billion Buyout of U.S. Steel
May 6, 2024 by
CPI
Banco Sabadell Rejects Rival BBVA Merger Proposal
May 6, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI