Key Takeaways

Hims & Hers Health ( HIMS ) shares jumped roughly 20% to a fresh record high on Wednesday following the announcement that the company acquired lab testing facility Trybe Labs.

The online healthcare provider said the deal will allow it to roll out at-home blood testing, which will let customers get more information about "hormone levels, cardiac risk, stress markers, cholesterol, liver function, thyroid function, and prostate health." The company said it plans to roll out the at-home blood draw service over the next year.

The company said the acquisition has already been completed, but did not release financial terms. Hims & Hers said it funded the deal with cash on hand; it said it had about $166 million in cash or cash equivalents, and more than $600 million in total assets, at the end of the third quarter.

The announcement comes ahead of the company's fourth-quarter earnings, set for release after the market's close on Monday.

Shares of Hims & Hers recently up 19% to near $70 apiece, earlier hitting a record high of nearly $73.

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