Regroup, a Chicago startup that provides virtual mental health services, has merged with InSight Telepsychiatry, a legacy telehealth company.
The two companies announced the news Tuesday, noting in a statement that the merger will create the largest telepsychiatry service provider in the U.S.
Founded in 2011, Regroup allows healthcare providers to integrate virtual mental health services directly into their own facilities, allowing patients to receive mental health care at the same place they see their primary care doctor. Regroup says it has partnerships with providers at more than 175 healthcare locations across the U.S.
Regroup is backed by $14 million in venture funding from investors such as OSF Ventures, Hyde Park Angels and Impact Engine.
Philadelphia-based InSight was launched more than two decades ago and serves hundreds of organizations across the country, including hospitals, correctional facilities and universities.
David Cohn, the founder and CEO of Regroup, will serve as chief growth officer of the combined company and maintain a seat on the board. Geoffrey Boyce, CEO of InSight, will also be the chief executive of the new business.
“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 care settings of their choice,” Cohn said in a statement.
