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MedCity News More healthcare startups go public through SPACs but will they succeed? More healthcare startups are choosing to go public through mergers with special-purpose acquisition companies publicly-traded shell companies created with the purpose of taking a private company public. But as the number of SPACs searching for targets increases, will the SPAC bubble burst? Shares1 From the beginning, Hims & Hers CEO Andrew Dudum had imagined he would take his startup public through a traditional IPO. But last month, the direct-to-consumer health startup ended up taking a different route. The startup merged with a special-purpose acquisition company formed by Oaktree Capital Management, effectively a shell company that goes public with the purpose of finding and acquiring a target company. The deal netted Hims & Hers a $1.6 billion valuation and $330 million in cash.

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