PsychPlus, a leader in psychiatric and therapeutic care, announced the acquisition of Koa Health, a digital mental health startup, presently operating throughout Europe, Asia, and Australia.
The financial terms of the deal were not disclosed.
Koa Health works with health plans, employers, and other health care providers to help support people with mental health needs. Its two core products, Koa Care 360 and Koa Digital Therapeutics, help personalize and track care as well as provide cognitive behavioral therapy (CBT)-based digital interventions.
The combined business will now support more than 6 million patients globally.
“Joining forces with PsychPlus enables us to scale our impact dramatically at a time when too many people wait weeks or months to receive critical mental health support,” said Dr. Oliver Harrison, former Founder-CEO of Koa Health and now President of PsychPlus.
“Together, we’re setting a new standard by creating something this industry has never seen at scale: a multi-national, multi-channel, integrated mental health platform spanning the full continuum of care,” added Dr. Oliver Harrison.
More than 5000 digital health companies have been acquired to date, according to our recent M&A Database. More recently, Elation Health, a provider of an all-in-one electronic health record (EHR) software platform for primary care providers, announced its acquisition of Aster (Aster Care), an AI-powered EHR software startup.