The $1.6 billion sale of Australian telehealth unicorn Eucalyptus to New York-listed obesity drugs giant Hims & Hers Health is likely to create plenty of (paper) millionaires among employees, both current and former.
And there’s plenty there for venture capital, particularly the firms that made early investments in the start-up, which prescribes medication similar to Ozempic and has other telehealth services such as a fertility program.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com