Unmind, a provider of workplace mental health solutions, announced the acquisition of Frankie Health, a digital employee mental healthcare platform that connects employees to a global network of mental health practitioners.
The terms of the transaction were not disclosed.
In conjunction with the acquisition, the company launched Unmind Talk, an offering based on Frankie Health’s global network of mental health providers. Unmind Talk offers employees a personalized number of sessions with professional mental health providers, along with Unmind’s existing digital tools. Employers will have access to anonymized data, including analytics on employee turnover, decreased mental health and absenteeism.
As part of the transaction, Frankie Health’s co-founders, James McGann and Seb Poole, will join Unmind alongside the rest of the company’s workforce.
“Today marks a significant milestone in the Unmind journey,” Unmind CEO and cofounder Dr. Nick Taylor said in a statement. “Unmind will always advocate that prevention is better than cure, but in order to fulfill our vision and become the most trusted and effective global partner for transforming organizational and employee mental health, we must do more.”
“From the very first days of Unmind, we knew we could drive change by combining the best of science with scalable digital tools. Extending that further by integrating expert human services allows us to fully support our members through the flow of care, giving them frictionless access to quality practitioners from around the world,” added Nick Taylor.
According to our digital health M&A database, more than 100 virtual and remote mental healthcare startups have been acquired to date.
More recently, Vector Health Labs, a healthcare technology company, acquired Get A-Head, a provider of quality mental health care and training platform for mental health practitioners, for $17 million. Color Health, a provider of virtual population health programs at scale, acquired Mood Lifters, a provider of virtual mental health programs for adults and youth, for an undisclosed amount.
