Philadelphia-based Independence Health Group is leading a $60 million investment in New York City-based Quartet Health to grow its mental health screening offerings to providers. This new infusion of cash comes roughly two years after the company closed a $60.75 million Series D round.
- Partnership: The expanded partnership builds on a February announcement that the two companies would collaborate on a whole-person health initiative in Pennsylvania. Now, the Independence Health Group will further leverage Quartet Health’s data and analytics to identify patient mental health needs and track treatment success.
- Insurers: Quartet Health is contracted by insurers as a service for physicians, who use it to screen patients for mental health conditions, according to The Philadelphia Inquirer. Currently, Quartet Health serves six Blue Cross Blue Shield affiliates nationwide and is now growing under Independence Health Group, which owns Independence Blue Cross and AmeriHealth among other subsidiaries.
- Focus: Quartet is focused on matching patients to mental healthcare professionals based on their preferences, needs, and insurance. The service is able to connect patients to therapists, psychiatrists, and online programs. Patients can use the tool to find a provider, or a doctor can refer a patient to the service.
- Funding: The new funding is, in part, expected to help fuel the partnership between Quartet Health and Independence Health Group. As part of the deal, Quartet is expected to continue to grow its patient identification and engagement tools, its actionable insights, and its ability to support additional conditions.
- Integration: “Independence believes that integrating physical and mental health is central to improving overall health and wellbeing,” said Independence CEO Deavens. “This core belief underlies Independence’s efforts to collaborate with partners and clinicians to integrate care delivery.