23andMe to Acquire Telemedicine Firm Lemonaid Health

23andMe signed a definitive merger agreement with Lemonaid Health, an on-demand platform for accessing medical care and pharmacy services online. Under the merger agreement, the purchase price is $400 million (subject to certain customary downward adjustments), of which 25 percent will be paid in cash and 75 percent in shares of 23andMe Class A Common Stock. The acquisition is expected to close by the end of 2021.
 
The acquisition adds Lemonaid Health’s innovative telemedicine and prescription drug delivery services to 23andMe’s consumer business. Paul Johnson, CEO and Co-Founder of Lemonaid Health, will become the General Manager of the 23andMe consumer business, and in that role, will continue to run the Lemonaid Health services. Ian Van Every, Managing Director, U.K. and Co-Founder of Lemonaid Health, will manage and grow operations in the U.K.
 
“We believe that by combining Lemonaid Health’s telemedicine platform, including its online team of medical professionals and its pharmacy services, with our consumer business, we are taking an important step in transforming the traditional primary care experience and making personalized healthcare a reality,” said Anne Wojcicki, CEO and co-founder of 23andMe. “By starting with genetics as the foundation, we will give patients and healthcare providers better information about health risks and treatments, opening up the door to prevent as well as better manage disease. 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.”
 
Lemonaid Health offers patients affordable and direct online access to medical care, from consultation through treatment, for a number of common conditions. Lemonaid Health uses evidence-based guidelines and up-to-date clinical protocols to provide affordable quality care. Within minutes, patients are able to interact with a licensed doctor or nurse practitioner for consultation and treatment. Patients are offered free and fast delivery of prescription medications through the platform, increasing the speed, accessibility, and efficiency of treatment.
 
“23andMe’s mission-driven focus on empowering and transforming the healthcare experience is perfectly aligned with Lemonaid Health’s founding principle to improve access to quality healthcare,” said Paul Johnson, CEO and Co-Founder of Lemonaid Health. “We are tremendously excited and energized to join the 23andMe team.”