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Big Health’s CEO: Working With Big Healthcare (CVS) & Big Pharma (as a DTx) on Mental Health

By JESSICA DaMASSA, WTF HEALTH

Big Health bills itself as a “complete 24-hour solution for mental health,” offering Sleepio to those who have trouble sleeping and Daylight to those who suffer from worry and anxiety during the day. Fresh off a $39M Series B in June 2020 (total $54.3M) — and having just landed Daylight onto CVS Health’s digital health formulary to join Sleepio there as a “point solution” payors can easily integrate into their benefits offerings — co-founder & CEO Peter Hames stops by for an ENORMOUS conversation about the ‘state-of-play’ for digital mental health companies like his own. Has CVS Health’s digital formulary made it any easier to contract with employers and get the attention of health consumers? And, what of the attention being paid to Big Health itself? As we hit “peak platformization” in digital health, is the company a prime acquisition target? (Note: Omada Health’s CEO Sean Duffy is a friend and investor and we get a good laugh around the 15-minute mark when we fact-check some rumors… ) Finally, another “insight highlight” worth mentioning: some candid conversation on what’s happening in digital therapeutics (DTx) as Peter is the Chair of the category’s industry org, the Digital Therapeutics Alliance. Does Big Pharma still have an appetite for DTx despite some rough news about partnerships with startups in recent months? You’ll want to tune in around 17:30 for more on that too.

Health in 2 Point 00, Episode 130 | DispatchHealth, BrightInsight, Cedar, Big Health, Redox & Plume

Sadly conferences have all gone digital, but Jess and I are still here covering deals on Health in 2 Point 00. On Episode 130, DispatchHealth gets $136 million, providing in-home health care by sending a tech to your house, BrightInsight gets $40 million to help biopharma and medtech companies leverage connected devices and develop digital health tools, Cedar raises $102 million for their medical billing software, Big Health raises $39 million for digital mental health tools Sleepio and Daylight, Redox lays off a quarter of their staff, and Plume raises a $2.9 million seed round, providing telehealth for trans individuals. —Matthew Holt

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