Company Overview

PRIME exits® and American Healthcare Capital have been exclusively retained to represent a founder-led, multi-state virtual behavioral health platform providing psychiatry, therapy, medication management, recovery support, functional medicine, and whole-person mental health services.The Company has operated for more than 16 years and has served more than 70,000 patients across more than 850,000 patient visits. At its historical peak, the platform generated more than $27 million of net revenue and built a significant national payor footprint, with access to more than 43 million covered lives through established payor contracts.The Company is differentiated from traditional teletherapy and telepsychiatry platforms through its whole-person clinical model, which combines psychiatry, curated talk therapy, trauma-informed care, endocrinology, nutrition, functional medicine protocols, remote patient monitoring, chronic care management, and AI-enabled clinical decision support.The Company reports strong clinical outcome data and patient satisfaction metrics, which management believes support the platform’s ability to scale without sacrificing care quality.The Company currently serves patients across 17 states. It has approximately 600 active patients generating roughly 550 visits per month. The active clinical team includes one physician, one nurse practitioner, and three licensed clinical social workers. Management also reports a waiting list of approximately 40 providers ready to begin and believes approximately one-quarter of 120 providers who departed during the cash-flow disruption may return as operations stabilize.Current visit mix is approximately 10% therapy and 90% psychiatry, medication management, and overlapping functional medicine services. Remote patient monitoring and chronic care management are currently being layered into the care model. Revenue is broadly diversified across major payors, with approximately 25% each from Optum, Cigna, and Aetna, and the remaining 25% from Blue plans and other payors.

Financial Overview

The Company generated more than $27 million of net revenue in 2023 before experiencing a significant decline in 2024 and 2025 due to several operational and external factors, including partner separation, a challenging EHR transition, billing and cash-flow disruption, and the broader impact of the Change Healthcare outage.Management reports current revenue of approximately $7 million and believes the business is positioned for a meaningful turnaround with the right transaction or partnership structure. Conservative management projections estimate the Company has the potential to reach $100 million or more in revenue beginning in 2027.The Company has taken multiple steps to de-risk the go-forward plan, including launching a new EHR platform, building a new internal billing process, engaging experienced healthcare financial support, bringing in enterprise HR and credentialing partners, partnering with healthcare AI resources, cleaning up the cap table, and removing significant liabilities from the balance sheet.

Growth Strategy

Management’s growth strategy targets a return to scale through expanded provider capacity, increased geographic coverage, broader service offerings, functional medicine programs, additional payor and employer channels, Medicare/Medicaid expansion, and a potential MSO model for other providers.The Company is developing AI-enabled clinical decision support based on its historical operating experience, clinical protocols, and large patient visit history. Management is also incorporating AI tools across operations, including call center support, billing, and scribe functionality.

Transaction Overview & Valuation

The Company is seeking a transaction or partnership structure that supports the next phase of growth while preserving flexibility around structure, valuation, rollover equity, and final terms.Management’s current growth plan contemplates approximately $10.5 million of total capital needs over time, which may be addressed through the final transaction or partnership structure.Final transaction structure, valuation, capital amount, rollover equity, and related terms will be determined through discussions with qualified parties and definitive documentation.