Fort Health Secures $5.5M to Expand Mental Health Care Services into More Pediatricians' Offices in More States

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Nov 12, 2024, 09:00 ET

Partnership with NovaWell Expands Fort Health into Texas and Illinois; Funding Round Led by Twelve Below and Vanterra Brings Total Amount Raised to $16M

NEW YORK, Nov. 12, 2024 /PRNewswire/ -- Fort Health, a leader in integrated behavioral health, today announced that it has raised $5.5 million to expand mental health care into more pediatricians' offices. The funding round was led by Twelve Below and Vanterra bringing the total amount raised to $16M. Since launching, Fort Health has expanded into NJ, NY and PA, and secured large commercial contracts with payers and provider groups to provide access to evidence-based youth mental health care services. The latest round of funding will enable the expansion into Texas and Illinois through a partnership with NovaWell.

The United States is experiencing an extreme teenage mental-health crisis. From 2009 to 2021, the share of American high-school students who say they feel "persistent feelings of sadness or hopelessness" rose from 26 percent to 44 percent, according to a 2022 CDC study. As such, there is a pressing need to enhance access to mental healthcare where the challenges are exacerbated by alarming statistics. Texas ranks as the worst state for mental healthcare, with the highest youth suicide rates in the nation and a significant shortage of mental health professionals. Shockingly, 75% of Texas youth suffering from depression do not receive necessary services. In Illinois, one in five youth is affected by a mental health condition, according to the Illinois Department of Public Health (IDPH), reflecting national trends.

"Pediatricians are the most trusted relationship in family healthcare, yet they are overwhelmed by patients with mental health issues and very few have completed a child and adolescent psychiatry rotation or have the training to treat these conditions," says Natalie Schneider, founding CEO of Fort Health. "We have built our model to ensure that the pediatrician is central to the care team. Importantly, integrating behavioral health with primary care not only streamlines the experience, but also makes sense from a cost perspective. According to Milliman, integrated behavioral healthcare can reduce total medical healthcare expenses per patient by 9% to 17%."

How it Works

Once the pediatrician makes a referral, the patient is matched with a Fort Health provider based on preference, and the clinical team completes an evaluation and creates a personalized care plan. The pediatrician is kept apprised of clinical progress throughout the care journey, and informed regarding changes to medications. Fort Health also provides training to parents to better equip them to support their children at home.

Through its partnership with NovaWell, Fort Health will work directly with pediatric provider groups and hospitals in Texas and Illinois to provide evidence-based therapy, psychiatry, and parent coaching - all covered by insurance.

"We are excited to bring Fort Health into our comprehensive suite of integrated, evidence-based services that help patients thrive," said Suzanne Kunis, president and CEO, NovaWell.

The funding round was led by Twelve Below and Vanterra bringing the total amount raised to $16M. Redesign Health, Blue Venture Fund, and True Wealth Ventures also participated in this funding round, further boosting confidence in Fort Health's team and model.

"Investing in Fort Health means supporting a transformative platform that prioritizes accessible, evidence-based care for children and adolescents," said Ellis Fried, vice president at Vanterra.

"Many solutions exist for families who can pay out of pocket, but we wanted to help democratize access for those families who cannot afford cash-pay," said Taylor Greene, partner at Twelve Below. "Fort Health is making this possible."

About Fort Health

Fort Health is an in-network, virtual, pediatric mental health company that opens more paths to better care for more children and families by integrating primary and behavioral health care. Fort Health was built in partnership with the Child Mind Institute, an independent non-profit dedicated to transforming the lives of children and families struggling with mental health, mental illness and learning disorders. Fort Health partners with pediatricians, nurses, and school staff to provide evidence-based therapy, psychiatry, and parent coaching - all covered by insurance. Fort Health operates in New Jersey, New York, and Pennsylvania with plans to enter additional states later this year. Visit Fort Health on our website and on LinkedIn.

About NovaWell

NovaWell, an affiliate of Horizon Healthcare Services, Inc., is led by behavioral health industry professionals with deep clinical and administrative expertise. Driven by the fundamental idea that the traditional silos between physical and behavioral health have increased costs and delivered sub-optimal care, NovaWell believes the true path to better health is through an integrated model that connects physical, behavioral, social determinants of health and pharmacy programs to treat a whole person, not just a set of conditions. Powered by advanced analytics and predictive modeling, and utilizing a consumer-friendly digital interface to connect members to care, NovaWell offers health plans and health systems a suite of solutions that drive transformation. NovaWell's core product offerings have demonstrated significant improvements in access and speed to care, high member engagement and satisfaction, reduced behavioral health symptoms, reduced emergency department and inpatient utilization, and reduced total cost of care. Learn more at www.novawell.com.

About Twelve Below

Twelve Below is a venture capital firm focused on investing in early-stage technology companies that are poised to disrupt traditional industries. With a portfolio spanning healthcare, fintech, and AI, Twelve Below partners with visionary founders to accelerate growth and drive innovation.

About Vanterra

Vanterra is a venture capital firm that invests in disruptive companies in consumer health across products, services, and technologies. Vanterra focuses on companies with the potential of revolutionizing categories and redefining paradigms in consumer health.

SOURCE Fort Health