Headspace Health expands beyond the US

Digital Mental Health Company Headspace Health announced on Tuesday that it will begin offering its services to companies headquartered outside the US.

Headspace said it will start its international expansion in the UK and look for new markets over the course of this year.

The company offers mental health and mindfulness products, including self-guided content, text-based coaching, in-person and virtual therapy, and employee assistance services.

“People know and love Headspace, which is why it creates an accessible and inviting front door for people who can then access higher levels of assistance as needed. Expanding this full capability in the UK today is a major milestone on our journey to transform mental health care to improve the health and happiness of the world,” CEO Russell Glass said in a statement.

BIG TREND

Headspace Health was created by merging meditation app Headspace and mental health company Ginger in 2021. Following the deal, the combined company acquired two other mental health-focused startups to expand its capabilities.

At the beginning of last year, the company announced that acquired Sayana, a maker of AI-enabled mental health and sleep tracking apps. In September, Headspace announced the acquisition of the Shine app, a mental health platform focused on culturally competent and inclusive offerings.

“Most of the acquisitions we’ve made, both collectively and some of the ones we’ve made individually, fit the lens of any content that aligns with our core mission and helps increase our outreach from being self-serving to serving the promise of mental health, the opportunities that technology is bringing to the next level – especially in the areas of artificial intelligence, communication and community – and then talent, ”says Leslie Witt, director of product and design at Headspace. told MobiHealthNews shortly after the latest deal was announced.

Mental health remains a popular clinical area for digital health startups. The company raised $2.1 billion in investments last year. However, according to an investment report from Rock Health, funding overall has slowed significantly in 2022. Experts say there could be further consolidation in this space.

A number of digital health companies have also recently carried out layoffs. At the end of last year, Headspace confirmed that it had laid off 4% of its employees, about 50 people. Competitor Calm cut staff by 20% over the summer.