Investing.com — Genetic testing firm 23andMe is reportedly considering the sale of its telehealth division, Lemonaid Health, according to Business Insider. The company, which has faced financial difficulties, originally acquired the virtual care startup in 2021 for $400 million in a cash and stock deal.
The stock value of 23andMe has seen a significant drop following a data breach in 2023 that exposed numerous customer accounts. The potential sale of Lemonaid Health appears to be part of the company’s strategy to navigate its current financial situation.
When 23andMe first purchased Lemonaid, it expressed an intention to offer personalized telemedicine care, using its genetic data collection to inform this care. However, it remains unclear how advanced the company’s efforts to sell Lemonaid Health are at this stage, as 23andMe has not responded to multiple requests for comment.
Lemonaid Health’s potential buyer remains unknown as the company has not disclosed any further details about this possible sale.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
