Burr Represents SimpleTherapy® in Acquisition of Physmetrics and Halcyon Behavioral
SimpleTherapy, Inc., an industry-leading digital musculoskeletal pain recovery solution for employers and health plans, has acquired PhysMetrics, a musculoskeletal benefit administration company, and Halcyon Behavioral, a behavioral health and wellness company.
This acquisition allows SimpleTherapy to expand upon its existing digital and virtual physical therapy programs to deliver omnichannel MSK and behavioral health services under the direction of a single, unified multidisciplinary care team. Members are supported through digital, self-guided programs, virtual telemedicine services, and a nationwide network of more than 20,000 providers including Physical Therapists, Occupational Therapists, Speech Language Pathologists, Chiropractors, Acupuncturists, and every type of behavioral health provider including psychiatrists and facilities. SimpleTherapy serves payors, including government-funded plans, commercial payors, and health systems.
SimpleTherapy's CEO Arpit Khemka says, "Employers and health plans have realized the significant impact of MSK and behavioral health conditions on their populations. We believe in leveraging data and technology to deliver significant support for these conditions by enabling providers to deliver easily accessible, high-quality care at scale."
With its Virtual First approach and access to in-person care, SimpleTherapy enables a seamless consumer interface, breaking down silos in care provision across virtual and in-person care, which remains largely unaddressed by other MSK and behavioral health solutions. This combination of high-touch and high-tech care fosters more significant access to valuable benefits, drives quality outcomes for members, and offers additional opportunities for clients to control their costs.
Keval Health acted as financial adviser on the transaction and Burr & Forman LLP served as legal counsel to SimpleTherapy for the transaction.
SimpleTherapy, founded in 2011, is the industry-leading digital musculoskeletal (MSK) pain recovery & mental health solution for employers and health plans to offer their employees and members. Combining evidence-based exercise therapy with artificial intelligence (AI), SimpleTherapy is personalized to each participant's condition, limitations, and therapeutic response.
PhysMetrics, founded in 2007, is an MSK company that serves employers throughout the U.S. PhysMetrics' services include carve-out MSK benefit administration and provide supplemental chiropractic and acupuncture benefit programs. PhysMetrics' nationwide provider network includes Physical Therapists, Occupational Therapists, Speech Language Pathologists, Chiropractors, and Acupuncturists. PhysMetrics also has wholly owned subsidiaries Chiropractic Health Plan of California and ChiroSource.
About Halcyon Behavioral
Halcyon Behavioral, founded in 2012, is a behavioral health and wellness company serving employers throughout the U.S. Halcyon's services include carve-out mental health and substance use disorder (MHSUD) benefit administration, Employee Assistance Programs (EAP), and wellness programs. Halcyon's nationwide provider network includes every type of behavioral health provider including psychiatrists and facilities.