LifeSpeak Inc. acquired ALAViDA Health Ltd., which provides virtual, cognitive-behavioral therapy (CBT) health solutions for addiction treatment support. The deal is valued at $12 million. LifeSpeak provides a mental health and total well-being educational platform for employee and customer-focused organizations.
In addition to utilizing the net proceeds from its $125 million initial public offering to augment its portfolio, LifeSpeak has committed further resources to content development, platform enhancements, and global market expansion. LifeSpeak believes that the acquisition of ALAViDA will enhance growth through significant cross-sell opportunities of ALAViDA’s industry-leading technology platform to LifeSpeak’s existing customer base and by introducing LifeSpeak’s platform for mental health and well-being education to ALAViDA’s customer base.
ALAViDA provides a comprehensive software-as-a-service (SaaS)-based alcohol and drug use treatment solution designed for employers that brings the key components lacking in the traditional rehab model together. It is a one-stop-shop approach for any level of addiction disorder – alcohol and drugs – mild, moderate, and severe. ALAViDA connects consumers with behavioral coaches, therapists, and physicians who work as a team to deliver personalized care right to their smartphones. ALAViDA is an employee benefit with varying plans and personalized therapeutic programs, which has proven to minimize time out of the workplace.
This was reported by LifeSpeak Inc. on October 14, 2021.
Contact information: Michael McKenna, Chief Financial Officer and Secretary, LifeSpeak Inc., 49 Wellington St. E, #301, Toronto, Ontario M5E 1C9; 866-287-4118; Email: email@example.com; Website: https://lifespeak.com/contact/.