5 Mental Health Companies to Watch in 2024

After a rocky 2023, mental health providers are considering new approaches to growth and sustainability. In the wake of the bursting venture funding bubble and cooling M&A market, providers are taking stock of their assets and looking for new revenue generation. Some providers have opted for new partnership opportunities with public entities, such as state […]

California Inks $680 Million Deal with Brightline, Kooth for Virtual Pediatric Mental Health Services

The state of California has inked a deal with pediatric behavioral health providers Brightline and Kooth to offer behavioral health services to all residents under 25 years old. The deal providing digital mental health resources to young Californians is valued at $680 million. Approximately 13 million children and young people will be able to access […]

Cigna Grew Its Behavioral Health Network by 30% in 2022

The Cigna Group (NYSE: CI) expanded its behavioral health provider network by 30% in 2022, doubling its size in the past four years. The Bloomfield, Connecticut-based health insurance and service giant also nearly doubled the size of its virtual care network, according to its latest impact report. The Cigna Group now engages more than 300,000 […]

Discovery Behavioral Health Names Growth, Strategy Exec; Equip Hires First President

Equip hires its first president Equip, a virtual, evidence-based eating disorder treatment company, appointed Nikia Bergan as its first-ever president. Bergan will report to co-founder and CEO Kristina Saffran and serve as an observer on the Equip board of directors. For nearly 20 years, Bergan worked at the Advisory Board Company, part of Optum. Optum […]

Pediatric Mental Health Provider Brightline Cuts 20% of Its Workforce for the Second Time in 6 Months

Youth and family mental health startup Brightline announced layoffs for 20% of its workforce last week. This is the second round of layoffs in recent months for the Palo Alto, California-based company. In November, 2022 Brightline announced a layoff that would impact 20% of its workforce. This latest move by Brightline comes after a wave […]

‘Everyone’s Trying to Solve This From Different Angles’: Addressing the Worsening Pediatric Behavioral Health Crisis

Rates of pediatric behavioral health conditions have skyrocketed in the wake of the COVID-19 pandemic. As a result, the federal government has poured hundreds of millions of dollars into pediatric mental health services. Last year, the Biden administration pledged nearly $300 million to expand mental health services in schools, for instance. Still, addressing the youth […]

Employers Becoming ‘Allergic’ to Per Member Per Month Contracting with Behavioral Health Companies

Over the last few years, an increasing number of digital mental health point solutions have been knocking on the doors of employers and employee assistance programs (EAPs), searching for potentially lucrative contracts. But as employers become more sophisticated and their use of behavioral health point solutions more commonplace, the contracting game appears to have changed. […]

Virtual Pediatric Behavioral Health Startup Brightline Cuts 20% Of Its Staff

The well-funded pediatric virtual behavioral health startup Brightline has laid off 20% of its workforce. The company announced the move to employees on Friday. A company spokesperson said Brightline “identified several areas to realign our strategic priorities” but didn’t explain what those areas or priorities are. It’s not clear precisely how many employees were impacted. […]

Northwell Health Invests $10M into Pediatric Virtual Behavioral Health Provider Brightline

Pediatric behavioral health provider Brightline scored an additional $10 million in funding from health care organization Northwell Health. This brings the company’s total Series C raise to $115 million. Its overall fundraising total rises to just under $220 million. Founded in 2019, Brightline uses multidisciplinary care teams to deliver virtual behavioral health care to children, […]