AbleTo, Inc., a provider of virtual behavioral healthcare proven to improve clinical outcomes and lower healthcare costs has acquired Joyable, an app-based digital therapy innovator. The acquisition strengthens AbleTo’s high-quality virtual behavioral healthcare with a digital platform that delivers clinically-based therapies supported by coaches to help individuals overcome depression, generalized anxiety, and social anxiety.
Founded in 2014, Joyable offers users expert-designed digital engagement with a coach to address individual needs, ensure access to the right support, and track outcomes rigorously. Joyable works with leading employers to improve access to achieve engagement rates that are 10x typical mental health solutions. To date, Joyable has reached more than 500,000 individuals suffering from anxiety or depression.
According to Mental Health America, more than 50% of people living with behavioral health needs do not get the necessary treatment. Virtual and digital therapy help solve critical challenges like care shortages, stigma, and cost that prevent many from accessing care. AbleTo and Joyable both help to address the problem of access through the use of technology to deliver care to individuals when and where they want. Both also employ Cognitive Behavioral Therapy (CBT) to ensure high quality treatment that results in their proven ability to significantly improve health.
“Joyable was founded on the idea that everyone should be able to access high-quality behavioral healthcare. Joining AbleTo will allow us to expand our mission with a team that shares the same goal,” said Joyable Co-founder and CEO Peter Shalek. “I am excited for Joyable to become part of a larger effort and continue to build and grow with our combined capabilities.”
Financial terms of the acquisition were not disclosed.