SonderMind, a Denver, Colorado-based digital mental health company, is acquiring Mindstrong‘s remaining technology assets in a deal that will end the latter company’s six-year run in the mental health space.
Mindstrong stopped providing service to patients on March 10 and closed its Menlo Park, California headquarters. SonderMind will hire approximately 20 of Mindstrong’s employees. Financial terms of the deal were not disclosed.
Mindstrong was founded in 2017 as a company that would use biomarkers to detect mental health conditions. The company eventually shifted to treating mental health through smartphone-based therapy and other services.
Founded in 2014, SonderMind is a digital health and telehealth company redesigning behavioral health to become more accessible and approachable. SonderMind also connects mental health providers to networks of new patients, helps with payor credentialing, manages the billings and claims processes and guarantees instant payment on claims.
This acquisition follows SonderMind’s $10 million purchase in November 2022 of Total Brain, an app that can assess and measure brain function and mental well-being.
According to data captured in the LevinPro HC database, this acquisition represents the 67th eHealth transaction of 2023, including 12 in the telehealth specialty. There were 112 eHealth and 13 telehealth deals announced between January 1, 2022, and March 23, 2022.
