meditation app Calm unveiled a new mental health product to be offered through traditional health industry players such as self-insured providers, payers and employers.
The company said the offering, called Calm Health, will include programs for specific conditions that are “designed to bridge the gap between physical and mental health care.” Calm Health will also include tools for communication with providers and caregivers, as well as medication tracking.
Mental health programs will begin with support for patients with anxiety or depression, as well as programs for users as they prepare for therapy or to use between sessions. Calm said it will eventually add mental health programs to support people with physical conditions like high blood pressure, obesity, heart disease and cancer.
“Mental health has risen to the forefront of our nation’s health concerns,” Calm CEO David Ko said in a statement. “From the tolls of the pandemic to financial uncertainty and workplace anxieties, people have turned to Calm over the last ten years to take control of their mental health. As we move forward in healthcare, our goal is to reach more people with clinical mental health tools and de-stigmatize the importance of regular mental health care.
THE BIGGEST TREND
The new offer was first mocked when Calm announced the acquisition of Ripple Health Group, a health technology company that creates apps for care coordination and condition management, earlier this year.
Ko, previously CEO of Ripple, joined Calm as co-CEO alongside Michael Acton Smith. Smith moved to a co-executive chairmanship this summerand Ko remained as sole CEO.
But Calm went through a rough patch financially in August, lay off about 20% of your workforce. According to a memorandum first reported by The Wall Street JournalKo wrote that the company “was not immune to the shocks of the current economic environment.” A number of other digital health and health technology companies Workers have been laid off in recent months.
Mental health is still a popular area for digital health financingeven as investors put less money into the space compared to last year. calm in the end announced a $75 million Series C round in late 2020, pushing its valuation to $2 billion.
A great competitor of Calm is headspace healththe result of a fusion 2021 between Headspace, focused on meditation and mindfulness, and digital mental health company Ginger. Headspace Health has also been making acquisitions this year. Recently bought sayanamaker of AI-enabled sleep and mental health tracking apps, and the glitter appa mental wellness platform focused on culturally competent and inclusive offerings.
