PALO ALTO, Calif.–(BUSINESS WIRE)–Mindful Health Solutions (MHS), a leading provider of interventional psychiatry and other mental health services, today announced that it has closed a growth investment from Norwest. General Partner Dr. Ryan Harris and Principal Ryan McDonald will join MHS’ Board of Directors.
Founded in 2007, Mindful Health Solutions (MHS) provides in-network mental health services, focused on improving clinical outcomes for patients with a wide range of conditions such as anxiety, depression, OCD, ADHD, PTSD, and memory disorders. MHS provides access to comprehensive mental health care, offering virtual and in-person Medication Management, talk therapy, Transcranial Magnetic Stimulation (TMS), Esketamine nasal spray, and other therapies via its extensive team of psychiatrists and psychiatric nurse practitioners.
According to the National Institutes of Health, nearly one in five US adults lives with a mental illness. Since the onset of Covid-19, reports of anxiety and depression have quadrupled, according to the Kaiser Family Foundation. “We are facing twin crises between Covid-19 and a surge in mental health issues in the US,” said Dr. Ryan Harris, General Partner at Norwest. “As the leading provider of interventional psychiatry services on the West Coast, Mindful Health Solutions is addressing this demand with innovative, evidence-based treatments and reducing barriers to care with telehealth and in-network coverage. We see a long-term opportunity to make a difference for patients in need.”
“We built a comprehensive platform that helps bridge the gap in patient access to advanced mental health care. As we aim to grow our footprint within and outside of California, we believe Norwest’s experience with such expansions will serve as a powerful resource for us,” said Brad Hummel, Chief Executive Officer, Mindful Health Solutions.
Headquartered in San Francisco, MHS operates more than 15 clinics throughout California and offers secure, convenient telehealth appointments. MHS’ newest clinics are located in Newport Beach, Los Angeles, Elk Grove, and Roseville. In partnership with Norwest, the Company plans to expand access to their services and establish a multi-region footprint. Norwest intends to leverage its deep healthcare services experience across specialties to bolster the platform and fuel growth.
Edgemont Partners acted as financial advisor to MHS in connection with this transaction.
About Mindful Health Solutions
At Mindful Health Solutions, our skilled psychiatrists and psychiatric nurse practitioners work tirelessly to ensure that each patient is treated with respect and compassion. We understand the challenges of suffering from clinical depression and other psychiatric disorders. Our goal is to help patients manage these profound difficulties through our technology platform which offers both telemedicine and in-person visits. We provide therapy, medication, and the most advanced treatments available, including TMS and esketamine. We accept all major insurance.
For more information, please visit mindfulhealthsolutions.com.
About Norwest Venture Partners
Norwest is a leading venture and growth equity investment firm managing more than $9.5 billion in capital. Since our inception, we have invested in more than 600 companies and partner with over 150 active companies currently in our venture and growth equity portfolio. The firm invests in early to late stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare. We offer a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders scale their businesses. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in India and Israel. For more information, please visit www.nvp.com.
Norwest (Ellie Javadi, firstname.lastname@example.org; 650-714-5057)
MHS (Elizabeth Till, email@example.com; 773-405-4176)