Publicly traded digital behavioral health companies Talkspace has announced a strategic partnership with menopause-focused telemedicine startup Evernow, with both companies planning to leverage the other’s services to expand their portfolios.
Talkspace offers therapy for adults, teens ages 13 to 17, and couples, as well as psychiatric services and medication management. The platform helps individuals suffering from anxiety, depression, bipolar disorder, OCD, panic disorder, PTSD, and postpartum depression.
Evernow matches users with clinicians who help create treatment plans based on an individual’s health history. Menopausal women can receive hormone therapy, such as estradiol patches or tablets, or the SSRI paroxetine, which can be used to treat night sweats and hot flashes.
Medications are delivered to patients’ homes, and patients can continue to message their healthcare providers as needed.
Through this partnership, Talkspace providers will have access to Evernow’s resources and references to help clients transition their operations. The company’s members receive a $50 discount when they sign up for an Evernow care plan.
“We are excited to embark on an innovative new partnership with Evanow to provide comprehensive support to women during the critical perimenopausal and menopausal years. “Together, we are redefining the landscape of women’s health.” , we look forward to providing our members with a comprehensive toolkit for holistic health,” said Natalie Cummins, Chief Business Officer at Talkspace. Mobi Health News on mail.
Evernow members have free access to Talkspace’s self-guided therapy sessions, including workshops, self-reflection, classes, psychoeducation, journaling, exercise, and more.
“The link between menopause and mental health has historically been ignored. Menopausal symptoms often begin in the brain, and rates of anxiety and depression double during the perimenopausal transition. Only now is it understood that there is even more.By working with Talkspace, we can empower women.”Inclusive and individualized for both body and mind With the right care, you can navigate the menopause with more confidence. ” Dr. Alicia JacksonCEO and Founder of Evernow shared: Mobi Health News.
bigger trends
Early this month, Hippocratic AI, a generative AI company developing large-scale, safety-focused language models for healthcare, announced the launch of an early access partnership program to support the development of the technology. Evernow was one of our early access partners At launch, it is the only women’s health platform. The company said it will leverage Hippocratic AI’s products to improve its platform.
last month, Talk space announcement The company has signed a $26 million contract with the New York City Department of Health and Mental Hygiene to power teen spaces in New York City. This three-year program provides free therapy and self-guided mental health resources to teens ages 13 to 17.
Although the company is struggling financially, it has reported some improvement in its performance. Third quarter 2023 earnings.
Third quarter results showed a 32% year-over-year increase in revenue to $38.6 million, driven by higher B2B revenue, offset by a year-over-year decline in consumer revenue.
Talkspace’s gross profit was $18.8 million, up 29% year over year, and operating expenses were $24 million, down 30% year over year. Net loss for the third quarter of 2023 improved significantly to $4.4 million from $18 million a year earlier.
The company reported that it expects to reach breakeven on an adjusted EBITDA basis by the end of the first quarter of 2024, with cash balances exceeding $120 million.