SilverCloud acquired by US telehealth provider
Mental health platform SilverCloud Health, has been acquired by Amwell, a US provider of telehealth services. Founded in 2012, SilverCloud is a spin-out from a collaborative project between the National Digital Research Centre, and Trinity College Dublin.
Amwell also announced its acquisition of Conversa Health, a developer of automated virtual healthcare solutions. The combined value of both deals is $320 million.
SilverCloud Health delivers a range of digital cognitive behavioral health programmes that are evidence-based and clinically validated. These programmes have shown results equivalent to face-to-face care for the one in five people with a diagnosable mental health condition and have helped over 65% of patient, member, and employee users to experience significant decreases in depression and anxiety symptoms.
“There is a tremendous unmet need for mental health solutions in today’s world. While SilverCloud Health’s mental health programmes have been used to support over 750,000 people to date, in partnership with more than 300 organizations globally including The Irish Health Service Executive and over 80% of the U.K.’s NHS mental health services, our work has only just begun,” said Ken Cahill, CEO of SilverCloud Health (pictured). “The reach of Amwell provides us with the access and resources to become the true global leader of digital mental health care delivery. The SilverCloud team has worked tirelessly for over a decade, and today becoming part of Amwell enables us to scale against our vision of effective mental healthcare for all.”
“We believe that future care delivery will inevitably blend in-person, virtual and digital care experiences; and as such, we are uniquely building a global platform to support such advanced, coordinated care,” said Ido Schoenberg, chairman and co-CEO, Amwell. “By integrating SilverCloud Health and Conversa Health into our platform we are demonstrating Amwell’s fundamental and repeatable design to continually scale digital healthcare services across the different sites of care. These acquisitions will amplify the presence and reach of care teams and reaffirm that as the needs of the healthcare marketplace evolve, so too will the Amwell platform.”
SilverCloud Health is used by more than 300 organisations worldwide, including Kaiser-Permanente, Optum, Providence Health, and the UK’s National Health Service.
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