American Well Acquires Aligned Telehealth to Expand Behavioral Health and Telepsychiatry Capabilities

VCBeat (WeChat ID:vcbeat) According to foreign media reports,2019Year11Month7Day, Telemedicine GiantAmerican WellAnnouncement of AcquisitionTelepsychiatry and Behavioral Health ProvidersAligned Telehealth. As of now, the two companies have not reached any agreement on the transaction price, the official effective date, or staffing arrangements.

American Well stated that this move would make it the largest operational enterprise telepsychiatry platform in the United States. For the company, the acquisition appears aimed at expanding the scope of its telehealth services and reaching new customer segments.

Since 2016, American Well has included psychiatry as part of its direct-to-consumer (D2C) services, and its position in this field has been further strengthened following the acquisition of Avizia last April. Notably, the telehealth company recently launched Clinic in a high-profile collaboration with Cleveland Clinic, a telemedicine service dedicated to providing comprehensive and highly responsive medical care.

Dr. Ido Schoenberg, Chairman and CEO of American Well, stated in a press release: “Aligned Telehealth is a leader in on-demand telepsychiatry services, meeting patient needs by supporting large medical centers and Medicaid programs. By integrating a unified clinical network and expertise, American Well’s virtual behavioral health program can be further expanded and enhanced. This exciting and significant initiative will positively impact patients, their families, and the care-providing treatment teams, while advancing clinical research and reducing overall costs.”

By adding a suite of new behavioral health features, American Well will assemble a clinical team to help the company expand its product portfolio. In addition, the vendor is preparing to pursue claims against Aligned Telehealth’s former clients—such as Diamond Healthcare, Dignity Health, Christus Health, California Forensic Medical Group, and Correctional Medical Group Companies.

Dr. Nitin Nanda, Founder and CEO of Aligned Telehealth, stated in a press release: “We have long believed that by leveraging robust technology and the right clinical expertise, we can deliver better mental health services to those in need. Our work with hospitals and Medicaid populations has validated this belief. We are excited to partner with American Well to help patients access the care they need and alleviate the burden on healthcare providers, thereby further overcoming barriers to treatment such as access, cost, time, and stigma.”

“Aligned Telehealth has achieved recognized results in the field of behavioral health, particularly in telepsychiatry,” said Michael Balmuth, Executive Partner at SV Health Investors, the sole institutional investor in Aligned Telehealth. “We are delighted to see Aligned Telehealth join forces with American Well to become mission- and outcome-driven stakeholders. We anticipate that together they will advance the cause of mental health treatment to such an extent that it will disrupt and transform our perception of telemedicine.”

(Compiled by Xiong Hui)