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An Australian company, established seven years ago, owns popular online weight loss platforms Juniper and Pilot. These services offer GLP-1 medications, similar to Ozempic and Mounjaro, to aid in weight management.
Eucalyptus, the parent company, also operates a variety of other telehealth services, including a comprehensive fertility program.
The impending sale of the company is poised to result in one of the largest employee share payouts in the history of Australian businesses, delivering substantial returns to its early investors.
According to a report by the Australian Financial Review, the collective value of shares in the deal, excluding those held by co-founders, is estimated to be around $300 million.
On average, each participating employee is anticipated to receive $420,000, with over 100 employees expected to benefit from this lucrative sale.
Eucalyptus chief executive and co-founder Tim Doyle is in line for $163 million by 2029 if he hits several targets.
Early investors including Blackbird Ventures, Who Gives a Crap toilet paper founder Simon Griffiths and Co Ventures founder Maxine Minter will also benefit from the acquisition.
Doyle described the acquisition as a “full circle moment” for the start-up.
“When we were launching Eucalyptus, we drew inspiration from Hims & Hers,” he said.
“Hims & Hers is the best-positioned business in the world to be the home for consumer health.
“This is also a moment to look backward and say thank you – to our investors, staff, clinicians, partners and our patients.”
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