Sunday, June 23, 2024

NeuroFlow acquires Owl to extend behavioral health offerings

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Pennsylvania-based behavioral health company NeuroFlow announced it acquired fellow behavioral digital health company Owl, expanding its measurement-based offerings to help providers identify and manage behavioral care needs.

NeuroFlow offers a cloud-based platform that allows providers to monitor and connect with patients between office visits and obtain AI-powered clinical decision support with personalized patient recommendations. The platform also offers educational content, journaling capabilities, well-being screenings, and mood and sleep logs. 

Owl’s platform allows patients to report clinical symptoms to their providers before an appointment, which the partners say will help providers save time during appointments, measure the effectiveness of treatment and better prepare for treating patients.

“We’re looking forward to expanding the impact of our technology with NeuroFlow’s team and resources,” Eric Meier, CEO at Owl, who will serve as NeuroFlow’s President of Behavioral Health Markets, said in a statement. 

“Together, our organizations will provide a truly comprehensive solution that simplifies identification of individuals in need of behavioral health care and guides them through their treatment journey. Ultimately, this merger means we can make the greatest impact on behavioral health outcomes across the healthcare spectrum.”

THE LARGER TREND

Last year, NeuroFlow acquired Capital Solution Design, the parent company of Behavioral Health Lab and BHL Touch. Capital was a measurement-based care company for the U.S. Department of Veterans Affairs and other care organizations that provided workflow support to clinical teams and individuals. 

NeuroFlow was also one of ten digital care companies to win the Veterans Affairs’ Mission Daybreak Grand Challenge, part of a 10-year strategy to end veteran suicide through a comprehensive public health approach. 

In 2019, NeuroFlow garnered $7.5 million in Series A funding. Two years later, it scored $20 million in a Series B round and secured a $25 million investment in 2022. 

The behavioral health company has partnered with numerous healthcare systems to expand their collaborative care models for behavioral health, including Georgia-based Emory Healthcare and New Jersey-based Atlantic Health System.

Last year, Owl partnered with Colorado Access, Centennial State’s Medicaid plan, to integrate its measurement-based care into the health plan’s offerings to support providers. 

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