Two telepsychiatry organizations, InSight Telepsychiatry and Regroup Telehealth have merged, to become what they call the largest telepsychiatry service provider in the United States.
The merger between InSight and Regroup brings together a network of providers with experience across different care settings and patient populations for underserved individuals and communities. This joint effort will allow for increased delivery of mental health services across the country in response to a nationwide shortage of specialists coupled with a rising need for behavioral health services, the company said.
Founded by child and adolescent psychiatrist, Jim Varrell, M.D., InSight Telepsychiatry, based in Mt Laurel, N.J., has more than 20 years of telepsychiatry experience and serves hundreds of organizations in various settings with its on-demand, scheduled and direct-to-consumer (Inpathy) divisions.
Regroup, founded in 2011 and based in Chicago, said it brings customized telepsychiatry solutions, technology and comprehensive support teams that contribute to the seamless integration of behavioral health clinicians at partner care sites. It grew with backing from a group of funders including the Hyde Park Angels and Frist Cressey Ventures.
“Our organizations are remarkably similar in terms of culture, values and vision for the future. By combining our passion, drive and efforts, we will continue to set the standard for telepsychiatry delivery, leading the way to unprecedented access to care to those who need it most,” said Geoffrey Boyce, CEO of InSight and the new combined organization, in a statement.
David Cohn, founder and CEO of Regroup, will serve as chief growth officer and maintain a seat on the board of directors for the newly combined organization.
Investors in the combined company include Harbour Point Capital, HLM Venture Partners, OCA Ventures, OSF Ventures, and Impact Engine. Ziegler, a specialty investment bank, represented Regroup in the merger process.
