Meditation app Headspace this morning announced plans to merge with on-demand mental health service Ginger. Barring unforeseen regulatory roadblocks, the two companies will combine to form Headspace Health. The new organization would sport a combined value of $3 billion and a headcount of more than 800.
The merger comes during accelerated usage of both parties, as a seemingly endless pandemic has put a strain on mental health across the globe and many have turned to virtual solutions to address the growing problem. [Read more…] about Headspace and Ginger merge to expand and scale up digital mental health
Riverside completes add-on investment to Wondr Health Platform (Private Equity Wire):
The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in eMindful, a provider of evidence-based, mindfulness programmes for everyday life and chronic conditions.
The investment is an add-on to Riverside’s Wondr Health (formerly Naturally Slim), a digital behavioral change company focused on weight management and preventing chronic disease within the employer-sponsored space. [Read more…] about Evidence-based, employer-focused meditation program eMindful acquired by digital behavioral change firm Wondr Health
“Wysa, the leading global AI-powered mental health platform, today, during Mental Health Awareness Month, announced a $5.5M Series A financing round led by W Health Ventures, a Boston-based digital health investor. Others participating in the round include the Google Assistant Investment program, and existing investors pi Ventures and Kae Capital. Wysa will use this capital to support its offering to employers who want to expand their mental health benefits, as well as scale up Wysa’s sales team and therapist network. [Read more…] about Artificial Intelligence (AI)-enabled chatbot Wysa raises $5.5M to broaden access to mental health support
Teladoc builds out mental healthcare services with myStrength Complete (MobiHealthNews):
Virtual care giant Teladoc is building out its behavioral health services through its latest program, myStrength Complete.
The new offering is designed to give users a single integrated mental healthcare experience. It combines the app-based models of care from myStrength with Teladoc’s on-demand therapists and psychiatrists … The myStrength platform uses evidence-based clinical models such as cognitive behavioral therapy, positive psychology and mindfulness to help treat behavioral health conditions such as depression, anxiety, insomnia and substance use disorder. [Read more…] about Teladoc Health, having acquired Livongo and myStrength, launches integrated mental health service for the workplace
Why an evidence-driven approach is the best way for businesses to support workplace mental health (World Economic Forum):
Mental health has never been higher on the agenda for businesses. It is easy to see why, as even prior to COVID-19, anxiety and depression were estimated to cost the global economy over $1 trillion every year in lost productivity. The exodus from offices in 2020 has presented further challenges and raised big questions about future ways of working … The absence of a deep and robust evidence base for approaches to supporting workplace mental health is a problem and can lead to well-intentioned businesses making critical and sensitive decisions in the dark. At best, such interventions are working and we just don’t know why or, at worst, they could be causing harm to workforces…
There are many reasons why mental wellbeing is important. Not only is it protective against physical illnesses and linked to greater productivity, but the mental wellbeing of a population is essential for a country’s sustainability, long-term growth and development.
But despite the clear benefits, governments tend to focus public spending on treating and preventing disease, and providing care for those who are ill. While this is important and should continue to be prioritised, such strategies alone won’t increase levels of mental wellbeing overall.
Not only would enhancing mental wellbeing across all segments of the population lead to better health on average, it would also be beneficial from an economic perspective. [Read more…] about Study: Higher mental wellbeing (in 2016) seen to lower healthcare costs (in 2017)