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Talkspace, a virtual mental health company, announced on Monday that it has acquired Wisdo Health, a platform for social health and peer support.
New York City-based Talkspace offers virtual therapy, psychiatry and medication management. Patients can connect with their clinicians via video, audio, chat or asynchronous text messaging. It serves both employers and health plans.
Wisdo Health, also based in New York, uses an AI-powered platform that matches members with trained peers who have shared lived experiences. Patients also get access to group sessions and monthly check-ins with a coach. In addition, patients can track their progress through regular surveys. The company serves payers.
Talkspace chose to acquire Wisdo Health due to aligned missions and philosophies, said Erin Boyd, chief growth officer of Talkspace. By acquiring Wisdo Health, Talkspace is able to expand its peer support abilities and better engage patients before, during and after therapy.
“This acquisition allows us to make good on our goal to expand access via a comprehensive continuum of care to high-quality care, by providing social support in a convenient, safe, and affordable way,” Boyd said in an email. “Wisdo’s AI-powered precision matching technology connects members with peers who share lived experience, offers group coaching from certified coaches, and now, therapy for those needing it. Together, we are even better positioned to meet people wherever they are on their mental health journey.”
The terms of the deal were not disclosed. Wisdo Health’s CEO, Ron Goldman, will be joining Talkspace, as will the rest of the Wisdo Health team.
“Joining forces with Talkspace allows us to bring the power of social health and peer support to millions more people. … Together, we will create a seamless continuum of care that ensures people receive the right support at the right time — while continuing to expand our AI roadmap, built on one of the richest proprietary datasets on loneliness and social health,” Goldman said in a statement.
Research shows that about 21% of adults in the U.S. are lonely. Loneliness can also lead to a myriad of health issues, including dementia, depression, anxiety, suicidal ideation, stroke and heart disease.
This acquisition of Wisdo Health makes it easier for Talkspace to move the needle on these stats, according to Boyd.
“Through this partnership, Talkspace is better positioned to address loneliness and isolation by extending access to trained peers, moderated communities, and group coaching,” she said.
Several other companies also address loneliness, including Pyx Health, Fello and Peppermint.
Photo: nespix, Getty Images
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