Talkspace, a virtual mental health company, announced on Monday that it has acquired Wisdo Health, a platform that provides social health and peer support.
New York-based Talkspace offers virtual therapy, psychiatry and drug management. Patients can contact the clinician via video, audio, chat or asynchronous text messages. It serves employers and health plans.
Wisdo Health, also located in New York, uses an artificial intelligence-driven platform to match members with trained and shared life experiences. Patients can also attend group classes and receive monthly checkups from their coaches. In addition, patients can track their progress through regular surveys. The company provides services to payers.
Talkspace chief growth officer Erin Boyd said that Talkspace chose to acquire Wisdo Health because of the same mission and philosophy. Through the acquisition of Wisdo Health, Talkspace can expand its peer support capabilities and better attract patients before, during and after treatment.
“This acquisition enables us to achieve our goal of expanding access to high-quality care with comprehensive continuous care and providing social support in a convenient, safe and affordable way,” Boyd said in an email. “Wisdo’s artificial intelligence precision matching technology connects members with peers who share their life experiences, provides group coaching provided by certified coaches and now provides treatment for those in need. Just together, we can better meet people’s mental health journey, no matter where they are.”
The terms of the transaction were not disclosed. Wisdo Health CEO Ron Goldman will join Talkspace, and other members of the Wisdo Health team will join.
“The partnership with Talkspace allows us to bring the power of social health and peer support to millions of people. … Together, we will create a seamless continuous care that ensures people are supported at the right time while continuing to expand our AI roadmap, which builds on one of the richest proprietary datasets of loneliness and social health.”
Research shows that about 21% of American adults feel lonely. Loneliness can also lead to a variety of health problems, including dementia, depression, anxiety, suicidal ideation, stroke and heart disease.
Boyd said the acquisition of Wisdo Health makes it easier for Talkspace to make progress on these statistics.
“Through this partnership, Talkspace can better address loneliness and isolation by expanding contact with trained peers and regulating community and group coaching opportunities,” she said.
Several other companies are also working on loneliness, including Pyx Health, Fello and Peppermint.
Photos: nespix, Getty Images
