A co-founder of New York-based virtual addiction treatment provider Halcyon Health announced on LinkedIn that the company is shutting down.
Andrew Bryk — co-founder, president and COO for the company — said in a post published late Monday night that Halcyon employees needed to find new employers and asked his network to consider hiring them.
“After several years of hard work, we have decided to halt operations at Halcyon Health,” Bryk wrote. “We took risks trying to push the envelope in mobile first care for substance use disorder by merging evidence-based treatment with engaging content, async data collection, and certified peer recovery coaching.
“Unfortunately we were not able to build a sustainable business and the amazing team of people I’ve had the opportunity to work with will be looking for new homes.”
Bryk founded the company with CEO Josh Nussbaum in 2019.
Halcyon Health sought to bring together evidence-based treatments that sought to blend telehealth, virtual medication-assisted treatment (MAT), peer recovery coaching and care coordination.
These services are similar among a growing number of startups and innovators that seek to increase the number of people receiving MAT for a substance use disorder.
Some companies that Behavioral Health Business have identified in this space are PursueCare, Ophelia Health and Bicycle Health. Burgeoning virtual mental health provider Cerebral Inc. has also announced its own fledgling MAT program for opioid use disorder.
Halcyon Health raised about $2.5 million in funding, according to data compiled by crunchbase.com. Investors in the company included Notation Capital, Version One Ventures, Cold Start Capital and Compound.
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