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Business Briefs: Valera Health, Options MD, ARC Health, Focus Forward Counseling & Consulting
Valera Announces $44.5 Million Growth Equity Financing
Valera Health, a virtual mental health services provider for high-acuity patients, announced the closing of a $44.5 million growth equity raise on Monday. The funding round was led by the healthcare-focused private equity firm Heritage Group, along with participation from Cigna Ventures, Horizon Healthcare Services, and existing investors.
Valera Health uses a team-based model that includes licensed therapists, nurse practitioners, case managers, and psychiatrists, and the company partners with healthcare systems and insurance plans to deliver clinical care to more than 50 million patients and plan members across several states.
The company offers its services to those in both rural and urban communities, as well as areas with a shortage of available providers. It serves BIPOC and LGBTQ+ communities through culturally intentional care and offers a multilingual provider network, more than 50% of which is comprised of clinicians who self-identify as Black, Hispanic, or Asian.
Options MD Raises $3.8 Million in Pre-Seed Funding
Options MD, a telehealth startup that provides care for treatment-resistant depression, announced $2.35 million in funding, bringing the company’s total pre-seed funding to nearly $4 million. The funding round was led by Bread & Butter Ventures, with M13, Bright Ventures, and Collab Capital also participating. MedMountain Ventures and Techstars also reinvested in the organization. Options MD received an additional $100,000 from the Google for Startups Latino Founders Fund.
Options MD said in a news release that the funds it has raised will be used to increase patient access to care and treatments that address severe and treatment-resistant depression through an expansion of clinical operations and medical research, along with enhancements to the company’s proprietary clinical tools.
ARC Health Acquires Multilingual Provider in Atlanta
ARC Health, a Thurston Group portfolio company, announced on Monday that it has acquired Focus Forward Counseling & Consulting (FFCC), a multilingual therapy practice with 2 locations in Atlanta, Georgia.
FFCC employs 27 psychiatrists, psychologists, and therapists, and offers services in Mandarin, Hindi, Punjabi, Danish, Hebrew, Russian, and Spanish. The organization offers child and adolescent counseling, LGBTQIA counseling, individual therapy, couples counseling, and marriage and family resources. FFCC also treats anxiety and depressive disorders, substance use disorder and trauma, and can perform psychological testing for attention-deficit/hyperactivity disorder.
With its acquisition of FFCC, the ARC Health portfolio now includes 300 clinicians working in 8 states and Washington, DC.
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