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Digital psychological well being firm SonderMind is buying Mindstrong’s know-how property months after the guy psychological well being agency laid off greater than 100 staff and shuttered its headquarters.
The deal consists of Mindstrong’s tech and a few of the firm’s tech-related workforce. In keeping with reporting by Digital Health Business & Technology, about 20 staff could have jobs at SonderMind. The remainder of Mindstrong has terminated operations.
SonderMind mentioned the acquisition will enable the corporate to supply extra personalised care journeys, scientific notes templates and improved measurement-based companies. It should additionally add to their capacity to deal with sufferers with severe psychological diseases.
“Know-how has a crucial function to play in bettering psychological healthcare supply and outcomes, however not by itself,” Mark Frank, CEO and cofounder of SonderMind, mentioned in an announcement. “The way forward for technology-enabled, personalised psychological healthcare that we’re constructing at SonderMind is just potential due to 1000’s of SonderMind suppliers. With the addition of Mindstrong know-how, we can be equipping clinicians with the scientific capabilities they want — comparable to tailor-made care pathways and enhanced measurement-based care -– utilizing know-how and knowledge to strengthen their capacity to ship high-quality care that helps people get higher, sooner.”
THE LARGER TREND
Based in 2014, Mindstrong initially targeted on growing digital biomarkers to catch early indicators of psychological sickness. Former director of the Nationwide Institute of Psychological Well being Dr. Thomas Insel joined the company in 2017.
It later added digital remedy and care companies, with a concentrate on severe psychological sickness. Mindstrong raised $160 million in enterprise {dollars}, together with a $100 million Series C introduced in 2020.
However the altering macroeconomic surroundings and slowing funding has hit quite a few digital well being corporations, and a few companies have pursued layoffs. In January, Mindstrong mentioned it might end its patient care services in March. The corporate later mentioned it might lay off 128 workers and completely shut its headquarters in Menlo Park, Calif.
SonderMind additionally lower 15% of its workforce late final 12 months, in accordance with reporting by the Denver Business Journal. It has been including acquisitions too; in November, SonderMind mentioned it had purchased Total Brain, a platform that enables customers to trace their psychological capability, feelings and stress ranges.
In 2021, it bought Qntfy, a predictive-analytics platform that makes use of psychological well being biometric knowledge to counsel potential therapy choices.
Dr. Vin Gupta will supply extra element throughout his HIMSS23 session “Keynote: Healthcare Disruption: Accelerated Alternatives for Care Supply Alternate options.” It’s scheduled for Wednesday, April 19, at 8:30 a.m. – 9:30 a.m. CT on the West Constructing, Degree 3, within the Skyline Ballroom, room W375.
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