Employees at Australian start-up Eucalyptus are set to receive a major financial windfall following the company’s $1.6 billion acquisition, in what is expected to be one of the largest staff share payouts in Australian corporate history.
Eucalyptus, which operates a range of telehealth services including fertility programmes, will distribute approximately $300 million worth of shares among employees under the deal, excluding the co-founders. More than 100 staff members are expected to benefit, with the average employee participant receiving about $420,000.
Former Chief Commercial Officer Joe Harris is reported to have earned more than $1 million from the share sale, while Chief Executive and co-founder Tim Doyle could receive up to $163 million by 2029 if performance targets are achieved.
Early investors, including venture capital firms and prominent entrepreneurs, are also set to gain significant returns from the acquisition.
Doyle described the deal as a “full circle moment” for the company, noting that Eucalyptus had originally drawn inspiration from the telehealth business Hims & Hers Health when it was first launched. He expressed gratitude to investors, employees, clinicians, partners and patients for supporting the company’s growth.
