Digital mental health company Headspace Health announced Thursday that it has acquired App Shine, a mental health platform focused on holistic services and culturally authoritative.
Founded in 2016, Shine offers self-guided content, including meditation and self-care courses on topics like stress and boundaries, as well as virtual community workshops.
The company’s co-founders and co-CEOs, Marah Lidey and Naomi Hirabayashi, will take on leadership roles across Headspace’s product and marketing teams. A number of Shine engineers and leaders in customer successes and marketing teams will also move to Headspace.
“The Shine app acquisition underscores the ongoing importance of instilling diversity, equity, inclusion, and belonging in the structure of everything we do,” Headspace CEO Russell Glass said in a statement. An announcement. “By integrating both powerful content and the talented team from Shine, we will be able to collectively scale the variety of services and experiences we can bring to our customers and its members.”
TREND TO BIGGER WOMAN
Headspace Health is the result of a merger between the meditation app Headspace and the virtual mental health company Ginger, closed last October.
The Shine deal is also not the company’s first acquisition this year. In January, Headspace announced it got Sayana, maker of AI-powered sleep and mental health tracking apps. When that deal was announced, Headspace touted its acquisition of Sayana as a way to add AI capabilities to personalize content based on user needs.
Mental health is still one Leading clinical field in digital health fundingin spite of number of competitors in space. A Rock Health report on the digital health investment landscape for the first half of the year found that mergers and acquisitions activity slowed compared to 2021. But the report’s authors noted in July that this number could increase.
Ashwini Nagappan and Adriana Krasiansky write: “Like the funding numbers, we do not foresee a return to the pace at which 2021 M&A will return, although we do expect 2022 M&A activity to grow steadily from a baseline. 2020 edition,” wrote Ashwini Nagappan and Adriana Krasniansky. “We will be watching to see if digital health companies well positioned in increasingly saturated segments of digital health begin to acquire smaller competitors – This means that the biggest wave of digital health consolidation is just beginning.”
“After six years of building Shine, we’re excited to join Headspace Health to scale up the urgent work to close the equity gap in mental health – something Naomi and I have often felt first-hand. “, Shine’s Lidey said in a statement.
“We believe everyone deserves to be part of their mental wellness journey, and with our combined team at Headspace Health, we’re on an exciting path to achieving this vision. that in general.”