Parallax Health Sciences Enters the High Growth Behavioral Health Marketplace
SANTA MONICA, Calif., Sept. 18, 2017 /PRNewswire/ -- Parallax Health Sciences, Inc. ("Parallax" or the "Company") (PRLX), an innovative, biomedical healthcare company headquartered in Santa Monica, California announced today that it formed Parallax Behavioral Health, Inc. ("PBH") to address the growing market needs for proprietary solutions in behavioral health.
The U.S. Substance Abuse and Mental Health Services Administration projected that 2017 will see a national behavioral health spend of $239 billion. The numbers are staggering: there are an estimated 4,000 areas in the U.S. designated as having a shortage of mental health professionals — one psychiatrist per 30,000 people. To address this problem, Parallax has developed a strategic plan that combines the formation of a dedicated subsidiary focused on the marketplace, acquisition of proprietary behavioral health software, and the development of novel consumer centric, corporate and government digital solutions.
To address this problem, the tech industry is busy creating digitally-based solutions. Appreciation has been mounting for the economic, personal and societal benefits of treating people who suffer from mental illness or substance abuse. Combined with a shift in treatment from inpatient to outpatient settings, this increasing understanding has fostered growth for the Mental Health and Substance Abuse Clinics industry According to the 2016 IBIS Report.
Nathaniel Bradley, PBH's Chairman, states that "on a personal level my family has been involved in mental health services the majority of my childhood and into my adulthood and professional life. Currently my father, Arizona state Senator David Bradley and I have been involved in suicide prevention initiatives for our military Veterans in Arizona for the last ten years."
Mr. Bradley further stated, "Our entire team believes in both the human need to address the rising problems associated with mental health in the US, and exploit the growing market economics to deliver value for our shareholders and keep true to our commitment to improve the health of our customers."
About Parallax Health Sciences, Inc.
Parallax Health Sciences, Inc. is an innovative biomedical healthcare company delivering consumer-centric products and services in the areas of pharmaceuticals, digital health and remote patient monitoring, behavioral health and point of care diagnostics.
For more information please visit our website at www.parallaxhealthsciences.com or email [email protected]
SOURCE Parallax Health Sciences, Inc.
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