Telehealth giant American Well has entered into a definitive agreement to acquire Aligned Telehealth, which specializes in virtual behavioral health services.
Financial terms of the deal were not disclosed.
Boston-based American Well is a global telehealth platform provider. It’s solutions are used by more than 160 health systems and 55 health plans, and they support services across the continuum of care, from chronic care management to post-acute care and everything in between.
Woodland Hills, California-based Aligned Telehealth is a national provider of behavioral health care via telehealth, supporting “major medical centers and Medicaid plans” such as Dignity Health and Christus Health, according to a press release announcing the news. The company has raised nearly $13 million dollars in funding since its founding in 2012, according to a press release announcing the news.
“By adding the Aligned clinical network and expertise, American Well can further expand and enhance our virtual behavioral health programs, an exciting and important endeavor that will positively impact patients, their families and the treatment teams providing their care, while advancing clinical outcomes and reducing overall costs,” American Well chairman and CEO Ido Schoenberg Chairman said in the press release.
As of late, telehealth has frequently been lauded as the answer to access issues within behavioral health care. While stigma can prevent people from seeking treatment, a nationwide shortage of behavioral health workers can also create roadblocks and long wait times for those who are attempting to get help. As such, only about one quarter of the nation’s mental health needs are met.
“We’re excited to join forces with American Well to help patients further overcome the barriers of access, cost, time and stigma when it comes to getting the care they need and reducing the burden on providers,” Aligned Telehealth founder Nitin Nanda said in the press release.
The acquisition will bolster American Well’s current offerings, while helping to differentiate the company’s behavioral health services. It will also customer success and satisfaction, according to the press release.