Wellin5 acquires Therachat marking its entry in the US Telehealth Market

SACRAMENTO, Calif., Feb. 10, 2020 /PRNewswire/ -- Wellin5, an innovative online telehealth counseling platform, today announced its acquisition of Therachat, a US-based mental health startup. The acquisition is part of its long-term expansion strategy that began in September 2019 when it named Sacramento, California its US Headquarters.

Wellin5's counseling platform uses AI-powered technology and smart-logic driven software to combat mental health challenges by quickly connecting its users with the most compatible counselor. As a leader in online counseling, Wellin5 provides captivating user experience and highly engaging service, in turn, creating a new understanding of mental wellness.

The acquisition of Therachat positions Wellin5 to expand its mental health expertise to include:

• Offering a full client and counselor centric experience on a centralized platform
• A library of mobile health tools such as emotion tracking, thought reframing, mindfulness, etc.
• Meaningful support through engagement and self-help mental health exercises
• An additional 5,000 therapists to add to its existing base of mental health professionals.

"We are very excited about acquiring Therachat," stated William Masih, Founder, and CEO of Wellin5. "This is a massive accomplishment in our plan to emerge as a leader in the preventive mental health space. Wellin5 is strongly positioned to grow exponentially over the next three to five years in North America and internationally. This year, we expect to close the next round of funding to expand our partnerships with insurance providers and employee benefits administrators to support our anticipated growth model."

"When we started Therachat, we wanted to make a difference for people who need mental health support along with the clinicians who support them. We created a product we are proud of and are so happy to see Therachat living under the roof of Wellin5," stated Kouris Kalligas, CEO and Co-founder of Therachat.

"I am so thrilled to partner with Wellin5 to continue our mission and I firmly believe the people we set out to help are in good hands. I look forward to continuing the mission of improving lives through my role as adviser," adds Jason Symons, Co-founder, and CTO of Therachat.

About Wellin5: Wellin5 is an innovative online telehealth counseling platform that connects clients and therapists via mobile. With passion, and through technology, Wellin5 gives people access to exceptional mental health professionals, empowering them to confidently feel better. Wellin5 has been named Digital Health Emerging Rocket by BCTechnology.

About Therachat: Therachat is a product designed to help therapists, psychologists, and mental health counselors in the US to keep their patients engaged in between therapy sessions. It provides therapists with over 40 premade and customizable homework activities. Moreover, Therachat allows individuals who don't have a therapist to use its mobile app and take advantage of the vast range of premade homework activities that are available.

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SOURCE Wellin5

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