Digital psychological well being firm SonderMind is buying Mindstrong’s expertise property months after the guy psychological well being agency laid off greater than 100 staff and shuttered its headquarters.
The deal contains Mindstrong’s tech and a few of the firm’s tech-related workforce. In response to reporting by Digital Health Business & Technology, about 20 staff may have jobs at SonderMind. The remainder of Mindstrong has terminated operations.
SonderMind stated the acquisition will enable the corporate to supply extra personalised care journeys, scientific notes templates and improved measurement-based providers. It is going to additionally add to their capacity to deal with sufferers with severe psychological sicknesses.
“Know-how has a crucial position to play in enhancing psychological healthcare supply and outcomes, however not by itself,” Mark Frank, CEO and cofounder of SonderMind, stated in an announcement. “The way forward for technology-enabled, personalised psychological healthcare that we’re constructing at SonderMind is barely potential due to 1000’s of SonderMind suppliers. With the addition of Mindstrong expertise, we can be equipping clinicians with the scientific capabilities they want — resembling tailor-made care pathways and enhanced measurement-based care -– utilizing expertise and knowledge to strengthen their capacity to ship high-quality care that helps people get higher, quicker.”
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 providers, with a give attention to severe psychological sickness. Mindstrong raised $160 million in enterprise {dollars}, together with a $100 million Series C introduced in 2020.
However the altering macroeconomic setting and slowing funding has hit a lot of digital well being corporations, and a few corporations have pursued layoffs. In January, Mindstrong stated it might end its patient care services in March. The corporate later stated it might lay off 128 workers and completely shut its headquarters in Menlo Park, Calif.
SonderMind additionally lower 15% of its workforce late final yr, in accordance with reporting by the Denver Business Journal. It has been including acquisitions too; in November, SonderMind stated 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 recommend potential therapy choices.
Dr. Vin Gupta will provide extra element throughout his HIMSS23 session “Keynote: Healthcare Disruption: Accelerated Alternatives for Care Supply Options.” It’s scheduled for Wednesday, April 19, at 8:30 a.m. – 9:30 a.m. CT on the West Constructing, Stage 3, within the Skyline Ballroom, room W375.
