23andMe To Acquire Lemonaid Health For $400 Million

23andMe Holding Co, which provides consumer-focused genetic testing, signed a definitive merger agreement valued at $400 million to acquire Lemonaid Health, which provides telemedicine, online pharmacy, and prescription drug delivery services. Under the merger agreement, 25% of the purchase price will be paid in cash and 75% in shares of 23andMe Class A Common Stock. The acquisition is expected to close by the end of 2021. 23andMe seeks to increase personalized primary care access for its consumers through telehealth offerings for mental and physical concerns.

Lemonaid Health’s co-founders Paul Johnson and Ian Van Every will remain with . . .