Hims & Hers on Monday named a technology veteran as the telehealth platform's new chief operating officer. Hims stock advanced in midday trades.
Nader Kabbani, who played key roles at tech giant Amazon, will serve as COO as Hims & Hers looks to expand "access to personalized care for millions more individuals," the company announced.
Kabbani worked nearly 20 years at Amazon where he led the acquisition of PillPack and the launch of Amazon Pharmacy. He also helped build other Amazon services, including Amazon Logistics, Amazon Flex and Amazon Kindle. Kabbani also spearheaded the tech behemoth's task force in charge of vaccinating more than a million employees, contractors, drivers and their families, Hims & Hers said.
In a statement, Hims & Hers CEO Andrew Dudum said Kabbani "will play a central role in ensuring our global operations deliver a new and innovative health care experience — one that opens up access to affordable, seamless personalized care at scale."
Kabbani's appointment comes at a critical time for Hims & Hers which created a growing business by selling knockoff weight-loss drugs at a lower price.
Last week, Hims stock rose sharply after the company announced a deal to sell Novo Nordisk's weight-loss drug Wegovy on its platform.
The agreement would give consumers access to NovoCare Pharmacy directly through Hims & Hers platform.
Hims stock rose more than 3% to 42.19 in midday trades. The shares are on track to post a third straight day of gain. Hims stock has a Relative Strength rating of 98, up from 95 a week ago, according to IBD MarketSurge.
