Lyra Health, a national provider of mental health benefits for employers, has acquired Bend Health with the goal of strengthening its pediatric and neurodiversity capabilities.

Lyra’s acquisition of Madison, Wisconsin-based Bend Health was completed July 16. Exact terms of the deal were not disclosed in the press release.

The move enables Lyra to utilize Bend Health’s collaborative care model and specialized providers to offer more comprehensive evaluations and virtual intensive outpatient care to its 20 million members.

Just last year, Bend Health expanded its virtual pediatric mental health offerings for children and young people up to age 25. The company was founded in 2021 and initially dedicated its services to children up to the age of 17, but increased demand, driven by the pandemic, propelled the company to extend its age range.

The “common mission” shared by Lyra and Bend prompted the acquisition, CEO of Lyra Health Jennifer Schulz said in the release.

“Welcoming the Bend team into Lyra expands the impact we can have and will help us achieve our joint vision of fully comprehensive whole person, whole family care, through every life moment and stage,” Schulz said.

Bend Health CEO Dr. Monika Roots echoed this, underscoring that the two companies “share a joint dedication to outcome-driven, evidence-based holistic care that supports both individuals and whole families.”

Expanding Lyra’s mental health benefits to include youth high-acuity care services is an aim to address the growing unmet need of the youth mental health crisis.

For its part, Lyra has been focused on broadening its scope of services beyond outpatient therapy and extending its virtual services to care for patients beyond employer deals. Earlier this year, the company forged a partnership with another Wisconsin-based company, Roger’s Behavioral Health, to serve as a referral bridge to more intensive behavioral health treatment for patients who need it.

Lyra’s acquisition of Bend Health will expand the company’s national footprint and deepen its overall strategy, as other players in the behavioral health industry also look to enter the realm of digital youth mental health care.

Both Lyra and Bend Health have garnered investor attention. Unicorn mental health company Lyra has raised more than $900 million in funding, including a $235 million Series G round in 2022. Meanwhile, Bend Health closed a $32 million funding round in 2023. 

In April, another virtual provider of high-acuity youth behavioral health, Charlie Health, announced a new offering and partnership with You Are Accountable, signaling momentum across the industry in this area.