Pediatric behavioral health provider Handspring has acquired adolescent therapy company Joon Care.
This comes just six months after Handspring announced a $12 million Series A funding round led by Cobalt Ventures.
Seattle-based Joon Care offers virtual, skill-based therapy services to individuals aged 13 to 25. The company cares for young people with anxiety, depression, sexual and gender identity challenges and disordered eating.
In 2023, the company raised $6 million. At the time of the funding, the company’s CEO and investor, Emily Pesce said the funding would provide enough resources to operate the company, which was not yet profitable, for two to three years.
“By uniting the highly skilled clinical teams, we are reinforcing our commitment to high-fidelity, outcome-driven care,” Sahil Choudhry, CEO and co-founder of Handspring, said in a blog post. “Joon team’s expertise with teens and young adults, combined with Handspring’s infrastructure for complex care and whole-family treatment, creates a seamless, full-spectrum care model. Together, we are better equipped to provide the right evidence-based treatment for every young person, regardless of their complexity or age.”
Choudhry noted that both teams have previously invested in their tech stacks, and that looking ahead the combined entity will build on those investments to improve communication, scheduling, communication, as well as enhanced care delivery.
The new acquisition will also help Handspring expand into Washington state, where Joon Care has contracts with government agencies and commercial payers.
There could be more growth for Handspring coming down the pipeline. In the blog post, Choudhry said the company “will continue to aggressively pursue expansion” of its services.
There have been several deals in the youth mental health space over the past year. For example, virtual pediatric provider Hazel Health acquired Little Otter and BeMe Health earlier this year.
Additionally, employer mental health benefits company Lyra Health purchased pediatric provider Bend Health in July, and family mental health provider Manatee acquired AI-backed mental health coaching company HappyPillar.