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.
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