PHILADELPHIA, PA / CHICAGO, IL, Dec. 10, 2019 - InSight Telepsychiatry and Regroup Telehealth have completed a merger agreement to become the largest and most comprehensive telepsychiatry service provider in the U.S.
The merger between InSight and Regroup brings together a robust network of providers and an impressive group of clinical and executive leaders with extensive experience and expertise across different care settings and patient populations for underserved individuals and communities. This joint effort will allow for increased delivery of mental health services across the country in response to a nationwide shortage of specialists coupled with a rising need for behavioral health services.
"InSight is excited about the merger with Regroup and the opportunities it represents. Our organizations are remarkably similar in terms of culture, values and vision for the future. By combining our passion, drive and efforts, we will continue to set the standard for telepsychiatry delivery, leading the way to unprecedented access to care to those who need it most,” said Geoffrey Boyce, CEO of InSight and the new combined organization. “This merger allows us to align our shared goals, operational efficiencies and established models to offer scalable solutions across the continuum of care.”
InSight Telepsychiatry, based in Mt Laurel, NJ, has more than twenty years of telepsychiatry experience and serves hundreds of organizations in various settings with its on-demand, scheduled and direct-to-consumer (Inpathy) divisions. Since its inception, InSight has maintained its reputation as a trusted and experienced industry thought leader by upholding a high standard of clinical care and actively advocating for industry changes to improve the adoption of telebehavioral health.
Regroup, founded in 2011 and based in Chicago, brings customized telepsychiatry solutions, technology and comprehensive support teams that contribute to the seamless integration of behavioral health clinicians at partner care sites. With backing from a group of funders including the Hyde Park Angels and Frist Cressey Ventures, Regroup grew quickly. Their clinicians collaborate with onsite care teams on patient care plans and workflows, yielding better behavioral care, shorter wait times and reduced barriers in settings such as primary care clinics, community health centers, hospitals and correctional facilities.
"Regroup is excited to complement our proven approach to integrated telepsychiatry with InSight’s breadth of services, including on-demand services for partners and direct-to-consumer solutions for patients seeking care at home or other private places of their choice,” said David Cohn, Founder and CEO of Regroup. Cohn will serve as Chief Growth Officer and maintain a seat on the board of directors for the newly combined organization.
Investors in the combined company include Harbour Point Capital, HLM Venture Partners, OCA Ventures, OSF Ventures, Hyde Park Angels, and Impact Engine. Ziegler, a specialty investment bank, represented Regroup in the merger process.
"Geoffrey and the leadership team are highly regarded by both the mental health provider community and their partners. This next phase of growth will continue to improve access to mental health care for underserved individuals, facilities and communities,” said David Crane, Chairman of the new organization’s board and a Partner at Harbour Point Capital.
"HLM has been a firm supporter of Regroup and is proud to see the impact they have made on how behavioral health services are provided virtually across the US. This merger marks a new chapter where the combined entity will be uniquely positioned to shape the future of the telebehavioral market even further,”said Vin Fabiani of HLM Venture Partners. Fabiani will continue to serve on the new organization’s board of directors.
The two organizations will continue to utilize their respective names and brands throughout the integration process.
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