Array Behavioral Care, a Mount Laurel, NJ-based provider of a virtual psychiatry and therapy practice provider, raised $25M in funding.
The round was led by CVS Health, which joined Wells Fargo Strategic Capital, Health Velocity Capital, Harbour Point Capital, HLM Venture Partners, OCA Ventures, and OSF Healthcare. David Fairchild, MD, MPH, SVP and Chief Medical Officer of Retail Health for CVS Health will join Array’s board of directors.
The company intends to use the funds to scale in new and existing markets through enhanced service offerings and operations, innovative technology, and expansion of the practice team.
Led by CEO Geoffrey Boyce and Dr. James Varrell, Executive Chief Medical Officer, Array Behavioral Care provides telepsychiatry solutions and services across the continuum of care, from hospital to home. Virtual solutions can also benefit psychiatrists, therapists, and other clinicians who can often be burdened with excessive administrative work that detracts from time that could be spent providing direct patient care. At Array, clinicians have a support team of clinical, operational, administrative, and technical specialists who help providers operate at the top of their licenses, integrate with care teams, and similarly practice as they would if they were physically present with the patient.
For more than 20 years, the company has partnered with hundreds of hospitals and health systems, community health care organizations and payers of all sizes to expand access to care and improve outcomes for underserved individuals, facilities, and communities.
Today, there are about 90 million Americans who can access Array’s services across all 50 states.
FinSMEs
09/01/2023