Hims & Hers Health Inc. announced plans to expand its weight loss program to Canada in 2026, coinciding with the anticipated availability of generic semaglutide.

U.S.-listed shares of the company rose 3% in premarket trading.

The digital health platform stated the expansion follows its recent acquisition of ZAVA, a European digital health company. The move targets Canada's weight management market, where approximately two-thirds of adults are overweight or living with obesity, according to the company.

Generic semaglutide is expected to be available at a significant discount to branded versions, which currently cost more than C$200 monthly in Canada without clinical support. The company plans to offer the treatment through its digital platform with access to licensed providers and personalized care plans.

"Canada is a major opportunity to show what affordable, high-quality weight loss care can look like," said Andrew Dudum, co-founder and CEO of Hims & Hers. "As generic semaglutide becomes available for the first time globally, we're focused on making it truly accessible, by combining affordability with trusted, personalized care at scale."

The company describes the timing as coinciding with the first-ever global availability of generic semaglutide. Hims & Hers operates a telehealth platform providing various health and wellness services through digital consultations.

David Meinertz, GM International at Hims & Hers, stated the expansion demonstrates the company's commitment to bringing care to underserved markets. The company indicated the Canadian entry reflects its growth strategy leveraging both organic expansion and strategic acquisitions.