telemedicine company Thirty Madison has partnered with behavioral telehealth company Talkspace to offer mental health offerings to Thirty Mason’s Nurx and Cove users and allow Talkspace users to access migraine treatment and women’s healthcare.
Talkspace will now act as a therapeutic partner to Nurx, which specializes in comprehensive dermatology, reproductive health and women’s sexual health care, and Cove, which focuses on migraine treatment.
Nurx and Cove currently offer users mental health treatment for depression and anxiety, as well as medication management.New Testament. Talkspace will be offered as a therapy option within the platforms, where users will be able to connect with an authorized provider and have access to the platform’s self-guided app.
Talkspace will also connect its users with Cove for migraine care and Nurx for women for care options related to dermatology and reproductive and sexual health.
“Too many people are experiencing mental health issues and are unable to access the care they need. Since we began offering mental health treatment to Nurx patients in 2022, we have seen a steady and strong increasesing demand. There is a clear need for women to have more affordable options available to them. Asynchronous care is effective and convenient, and we are excited to expand by partnering with Talkspace for therapy,” Caroline Hofmann, chief commercial officer at Thirty Madison, said in a statement.
THE BIGGEST TREND
In 2020, Thirty Madison closed a $47 million Series B funding round with participation from Polaris Partners and Johnson & Johnson Innovation along with existing investors Maveron Northzone.
In the same announcement, Thirty Madison named Amy Schulman, managing partner at Polaris Partners, to the company’s board of directors.
In 2021, the telemedicine company raised $140 million in Series C funding led by HealthQuest Capital with participation from Bracket Capital, Mousse Partners, Greycroft and previous investors Johnson & Johnson Innovation, Northzone and Polaris Partners. The funding round elevated the company to unicorn status, raising its valuation to over $1 billion.
The company planned to use the Series C funding to expand its specialty care options, including launching new brands.
thirty madison purchased The Pill Club in 2023 after the online birth control platform filed for bankruptcy. The company ensured continuity of care for The Pill Club patients through Nurx.
Conversation space went public through a special purpose acquisition company (SPAC) merger with Hudson Executive Investment Corp in 2021. The deal gave Talkspace $250 million in growth capital. The opening price of the company’s stock was $8.90 per share and is currently trading at $3.08 per share as of the date of this article.
The telehealth company faced a class-action lawsuit related to its SPAC merger in 2022. Investors alleged that the company misled them in a statement that misrepresented its performance and financial prospects and overstated its revenue related to its agreements with health plans.
Conversation space partnered with Bicycle Health to allow Bicycle Health patients to connect with therapists outside the realm of opioid use disorder, and Talkspace patients to access specialized opioid use disorder care.
In March, virtual platform for care and staffing. Wheel added Talkspace to its virtual care platform. Wheel also added pharmaceutical savings company Mark Cuban Cost Plus Drug Company and diagnostic services company Health Gorilla to its platform.