Regroup Telehealth, a US-based mental health treatment services provider backed by health system OSF HealthCare, has completed a merger with peer InSight Telepsychiatry.
Founded in 2011, Regroup offers telepsychiatry services, introducing patients to its partner hospitals and clinics. The transaction, in which Regroup was represented by investment bank Ziegler, will enable it to leverage InSight’s network of healthcare professionals and facilities.
Regroup closed a $6m series A round in June 2017 featuring OSF Ventures, the corporate venture capital subsidiary of OSF HealthCare, in addition to Furthur Fund, Impact Engine, HLM Venture Partners, Hyde Park Angels and OCA Ventures.
The company had raised a total of more than $19m in funding, according to press releases and securities filings. Watson Enterprise, New Stack Ventures, Harvard Business School Alumni Angels of Chicago and MD Angels are among its earlier investors.
Insight was founded in 1999 and acqquired by private equity firm Harbour Point Capital in Novermber 2018.
The two companies will maintain their separate brands in the short term. InSight chief executive Geoffrey Boyce will retain his role in the merged company while Regroup’s founder and CEO, David Cohn, will be chief growth officer.
