Hims & Hers stock surges 23%: Telehealth company announces expansion into blood testing weeks after Super Bowl buzz

Amid a month of skyrocketing stock prices and unprecedented social media buzz, Hims & Hers is expanding its territory into at-home blood testing and diagnostics.

Hims has acquired at-home lab testing facility Trybe Labs, the telehealth company said Wednesday. Using at-home blood draws, Hims will now offer over 70 at-home diagnostics tests, ranging from heart health to certain cancer detection tests.

All these can be arranged through the app, without a doctor’s visit.

“At-home lab testing is one more exciting step towards elevating the personal, comprehensive care customers in this country should expect,” Dr. Patrick Carroll, Hims & Hers chief medical officer, told CNBC.

Trybe Labs is based in New Jersey, and Hims & Hers will use these labs to “process blood tests at low-cost for Hims & Hers members, using state-of-the-art diagnostic equipment,” according to its webpage.

Pricing information for these tests will come out within the next year, according to the company.

Hims & Hers stock was up 23% during midday trading on Wednesday, following the news of the acquisition.

By offering at-home testing, Hims & Hers now puts itself in competition with industry juggernauts like Labcorp and Quest Diagnostics. Shares of Hims have jumped 230% in the last three months, while Labcorp’s and Quest’s have grown only by 4 and 6%, respectively.

The move comes during what has seemed like a month of Hims & Hers domination. The telehealth company, which vows to let its members “skip the awkward doctor’s visits,” recently entered the public consciousness with a viral and controversial Super Bowl ad.

The ad criticized the pharmaceutical industry while promoting itself as a cheaper alternative. Within the ad, a spokeswoman says: “There are medicines that work, but they’re priced for profits, not patients.”

After the ad aired, Hims & Hers saw a 650% increase in website traffic and an 11% increase in stock price.