Boston-based Writer Well being, a hybrid care platform for Medicare Benefit members with severe psychological sickness and substance use issues, launched with $115 million in financing.
Common Atlantic led the spherical with participation from Flare Capital Companions.
WHAT THEY DO
Writer Well being gives digital and in-person psychiatric look after Medicare Benefit recipients with a psychological sickness or substance use dysfunction. The corporate makes use of a team-based method, becoming a member of physicians, therapists, neighborhood well being staff, nurses and therapists. The corporate initially launched in South Florida in collaboration with Humana.
The funding will assist Writer develop into new markets and develop partnerships with different insurance coverage and healthcare corporations.
“By aligning Medicare Benefit well being plans and clinicians to enhance well being, and utilizing a mix of know-how and neighborhood relationship-building to open entry for hard-to-reach populations, Writer Well being is primed to fulfill the rising demand for psychiatric care on a nationwide scale,” Katherine Hobbs, CEO of Writer Well being, mentioned in a press release.
MARKET SNAPSHOT
In line with the Census Bureau, the senior inhabitants has grown considerably over the previous ten years, pushed by the growing old of the Child Boomer technology. As society experiences the demographic shift, known as the “grey tsunami,” there’s anticipated to be an rising want for senior care choices to fulfill the group’s calls for.
One other firm centered on offering psychological well being help to seniors is Rippl, which presents seniors with dementia and different cognitive circumstances psychological well being companies. In September, the corporate launched with a $32 million seed round led by ARCH Enterprise Companions and Common Catalyst.
MyndVR, a digital actuality digital therapeutic firm, additionally partners with insurance plans to supply seniors behavioral well being companies.
