Rose Health, a mental health services startup based in DC, will now operate under the umbrella of a larger, California-headquartered behavioral health company.
Exact Behavior acquired Rose Health for an undisclosed amount. Founder and CEO Kavi Misri will continue to lead the startup, as well as join the combined company’s board and become its chief innovation officer. Currently, Rose has 25 employees and PreSize has less than 100, but Misery hopes to have another 100 people on his team by the end of the year.
According to the WBJ, Rose Health was not planning to exit, but received Precise’s offer over the summer amid several merger and acquisition proposals. Mishri felt that Nanda’s experience would be the best path for a startup.
This step has been taken after Rose Health has successfully completed it several times over the years. In 2020, the company raised $1.5 million seed round raised after that a $7.5 million Series A The company also has ties to the Baltimore health tech community, beginning with Johns Hopkins University and participated in a project with Baltimore Neighbors Network (BNN) in 2020, Its website notes an office in Baltimore’s Remington neighborhood.
In an April interview, Misri told Technical.ly that the company has seen strong momentum given the rise of mental healthcare during the pandemic.
“We are seeing significant momentum, shifting to value-based care and how the current mental health crisis has stressed the system,” Misri said. “Rose will be highly strategic for emergency responders, risk-bearing organizations and mental health provider groups, who seek a way to differentiate themselves in the marketplace by leveraging Rose’s capabilities to keep patients engaged and empowered, and provide an evidence-based approach. Take care of yourself.”
