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Business Briefs: FinPay, GrayMatters Health, Cartwheel, Spring Health
Former Caron CEO Joins FinPay Advisory Board
FinPay, a patient engagement and financial management firm, announced on Tuesday that it has added Bradley Sorte, the former president and CEO of Caron Treatment Centers, to its advisory board.
Since stepping down from Caron in February, Sorte has co-founded SCAI, an early-stage technology startup developing an artificial intelligence platform geared toward fostering a more proactive approach to substance use disorder treatment.
“Brad is a recognized leader and expert in addiction treatment, behavioral health, and acute healthcare verticals, and his knowledge of these markets is invaluable in assisting FinPay as we improve patient engagement and financial management,” FinPay President and CEO Tim Kowalski said in a news release.
During his tenure as CEO at Caron, Sorte oversaw the launch of the organization’s Tieman Center for Research, as well as the development and creation of the Keele Center, a medical facility for clients with co-occurring medical issues and substance use disorders in Delray Beach, Florida.
GrayMatters Health Adds 3 Executives to US Leadership Team
GrayMatters Health, an Israel-based developer of self-neuromodulation therapies for mental healthcare, announced on Tuesday that it has expanded its executive team in the United States with the following appointments to its leadership team:
- Aaron Tendler, MD, as chief medical officer;
- Pam Schwartz as vice president of marketing; and
- Scott Blackman as director of market access and provider success.
The executive additions are part of a rollout of the company’s flagship device, Prism for PTSD (post-traumatic stress disorder), in clinics throughout the US. Prism for PTSD is a neuromodulation therapy device that will be prescribed as an adjunct therapy for PTSD. It is currently available in select clinics in the US.
Dr Tendler is a board-certified psychiatrist based in Palm Beach, Florida, with more than 20 years of experience researching novel treatments for mental health disorders. Schwartz has more than 2 decades of experience in medical device sales, marketing, and strategy, and Blackman has more than 30 years in the medical device and pharmaceutical industries.
Cartwheel Raises $20 Million to Fund Expansion
Cartwheel, a platform that helps schools address student mental health by providing telehealth-based services, announced on Tuesday that it has raised $20 million in Series A funding. The round was led by Menlo Ventures, with participation from Reach Capital and earlier investors General Catalyst, BoxGroup, and Able Partners.
Cartwheel said in a news release that the funding will support an expansion of its services to additional students in its current service areas, as well as school districts in new states. In school districts that partner with Cartwheel, school counselors can refer students for clinical mental health services that are provided by the organization’s in-house team of licensed clinicians who provide 1-on-1 therapy, group therapy, parent guidance, and medication support.
Cartwheel serves more than 50 school systems in 5 states.
Spring Health Partners With Eleanor Health
Spring Health, a mental health solution for employers and health plans, has announced an expansion of its substance use disorder (SUD) support services through a partnership with Eleanor Health, a provider of in-person and virtual care for addiction and SUD.
Spring Health launched its SUD program in 2021. The organization serves more than 4500 companies. Through the partnership announced on Thursday, Spring Health members in states where Eleanor Health is available will have access to Eleanor’s whole-person care model, which addresses the physical, mental, and psychosocial aspects of addiction.
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