DNA testing giant 23andMe Holding Co. agreed to purchase telehealth upstart and drug-delivery service Lemonaid Health Inc. in a bid to make its personalized genetics approach part of patients’ primary care.
23andMe will pay $400 million for Lemonaid, with 25% of the purchase price in cash and the rest in stock, according to a statement Friday. The acquisition is expected to close by the end of the year.
In a statement, 23andme CEO Anne Wojcicki wrote:
"We are acquiring Lemonaid Health so that we can bring true personalized healthcare to 23andMe customers. Personalized healthcare means healthcare that is based on the combination of your genes, your environment and your lifestyle - with recommendations and plans that are specific to you.
"Lemonaid Health is a pioneer in telemedicine and digital pharmacy. In Lemonaid Health we found a team of passionate, patient-obsessed people who want to bring better healthcare to everyone in an affordable, accessible way. Lemonaid Health’s focus on the patient and its philosophy of delivering individualized care fits perfectly with our mission of empowering people to take control of their health."