SILICON VALLEY, October 22, 2021: Morgan Lewis is advising 23andMe Holding Co. in connection with its acquisition of Lemonaid Health, an on-demand platform for accessing medical care and pharmacy services online. The transaction is valued at $400 million, subject to customary downward adjustments, and payable 25% in cash and 75% in shares of 23andMe Class A common stock. It is expected to close by the end of 2021.
23andMe is a leading consumer genetics and research company with a mission to help people access, understand, and benefit from the human genome. 23andMe pioneered direct access to personal genetic information, and Lemonaid Health will become part of 23andMe’s consumer business. Lemonaid Health is an innovative telemedicine and prescription drug delivery company with a mission to improve access to quality healthcare.
Partners Marlee Myers and Kimberly Taylor are representing 23andMe. For more information, read 23andMe’s announcement.
Earlier this year, Morgan Lewis advised 23andMe in its business combination with VG Acquisition Corp. (VGAC), a special purpose acquisition company (SPAC) sponsored by Virgin Group, in a deal valued at approximately $3.5 billion.