Concord Health Partners, a healthcare focused investment firm, today announced recent transactions by two of its behavioral health portfolio companies. Iris TeleHealth, a leading provider of transformative behavioral health services for health systems and community healthcare organizations, acquired innovaTel, a division of Quartet and telepsychiatry provider with differentiated expertise and unparalleled commitment to quality care. NeuroFlow, a leading behavioral health technology and analytics company, acquired Quartet Health, a value-based behavioral health care enablement company.
The accretive transactions, which were announced by the companies on January 21 and January 29, respectively, increase quality and access of care for mental health patients. Specifically, NeuroFlow’s acquisition of Quartet establishes NeuroFlow as the leading technology player in behavioral health and expands the company’s AI-powered platform. Further, it strengthens referral and care navigation capabilities for payers, health systems and federal agencies. Iris’s acquisition of innovaTel extends its market leading telepsychiatry platform, enhancing its scale, improving its competitive moat and solidifying its brand reputation as the premier provider in the industry.
“Quartet has been a leading behavioral healthcare company, driving innovation and expanding access to high quality care. We are pleased to have the opportunity to support this creative approach to consolidating business models in a way that enhances care for patients and strengthens the market position of both Iris and Neuroflow,” said James Olsen, Founder and Managing Partner of Concord. “Iris, NeuroFlow and Quartet have established themselves as leaders in the space, and the combination of their complementary tech-enabled services and enabling technologies will contribute to the transformation of the behavioral health market, creating a pathway towards enhanced clinical innovation and a significant runway for accelerated growth. We look forward to continuing to work with Iris, NeuroFlow and our strategic partners to help drive access to and adoption of these expanded offerings for the benefit of patients, health systems and payors across the country.”
About Concord Health Partners
Concord Health Partners is a healthcare focused investment firm with a strategic model that optimizes the alignment of interests between investors and portfolio companies. Concord has developed a broad network of strategic relationships that contribute expertise and resources, and serve as potential commercial partners to portfolio companies. Concord is primarily focused on investing in healthcare companies that have the potential to enhance the value of care through technologies and solutions that lower costs, improve quality, and expand access to care. For more information, visit www.concordhp.com.
About Iris Telehealth
Iris Telehealth helps healthcare organizations consistently increase access to quality behavioral health care for their patients by providing the care models, clinicians, analytics and expertise to build a sustainable behavioral health program. With clinical grounding and emphasis on human relationships, Iris Telehealth identifies best-fit providers for each unique organization and ensures long-term commitment to meeting their partner’s needs, allowing them to provide the highest quality care to their patients and community.
About NeuroFlow
NeuroFlow assesses and triages people with behavioral health conditions to get them to the right level of care, providing high-tech and high-touch support for populations that would typically fall through the cracks in today’s healthcare system. Proven to drive better clinical and financial outcomes for hundreds of leading health systems, payors, and military organizations covering 16 million individuals, NeuroFlow’s platform combines consumer engagement with enterprise-level care management software to support behavioral health at scale. To learn more, visit http://www.neuroflow.com.
