April 18, 2016
CHARLOTTESVILLE, VA – BeHealth Solutions, LLC (“BeHealth”) announced today that it has successfully closed on a $2.17 million financing round led by Murray-Bertron of Tampa, FL. The investment enables BeHealth to expand sales, marketing and product development efforts for its flagship product, SHUTi (www.shuti.me) a digital therapeutic for insomnia, and to extend into digital therapeutics that address other highly prevalent and costly health conditions, such as depression, anxiety, PTSD and hypertension. Published data from 5 randomized clinical trials (RCTs) shows that SHUTi users obtain clinically significant improvements in both sleep and depression measures and maintain these improvements at long-term follow up.
BeHealth is expanding access to affordable and effective behavioral health care through the use of scalable and cost-efficient technology. The company licenses SHUTi and other technologies developed by BeHealth’s founders in the University of Virginia Behavioral Health and Technology Lab, and regularly collaborates with top e-health researchers around the world. BeHealth is committed to evidence-based solutions and SHUTi has the most substantial evidence base of any digital therapeutic for insomnia, with over 7 years and $10 million invested in 5 completed RCTs and 6 more ongoing RCT’s.
“Changing public health policy, rapidly escalating healthcare costs, and a shift towards value-based care are driving employers, healthcare payers and healthcare providers to implement effective behavioral health strategies. Traditional delivery models pose numerous barriers to care, including high costs and a limited supply of caregivers that are concentrated in high population areas. BeHealth Solutions’ self-guided digital therapeutics overcome those barriers, making effective and affordable help available on a mass scale,” said Jack Murray, Partner of Murray-Bertron.
“Our highly scalable solutions can be used at a population level to address highly prevalent and costly healthcare issues such as insomnia, which has an economic burden of over $100 billion annually in the US,” said Joe Jennings, CEO of BeHealth. “Our digital health expertise, proprietary technology platform, and established relationships with top digital health researchers around the world position us well to create a platform of best-in-class digital therapeutics.”
About BeHealth Solutions
BeHealth Solutions (www.behealthsolutions.com) develops and distributes scientifically validated “digital therapeutics” that deliver proven cognitive and behavioral change strategies through the Internet and mobile devices. These self-guided programs offer scalable, affordable and effective solutions for behavioral and mental health issues, and are used by our customers in the management of chronic disease and mental health conditions.
For over 20 years, the partners of Murray-Bertron have been investing in private equity, venture capital and real estate, often partnering with entrepreneurs who seek capital and operating assistance for the growth of their product or service. Based in Tampa, Murray-Bertron has made investments in IT, healthcare, business services, hospitality, temporary storage, and land development. Signature investments include some of the earliest and largest franchisees in the PODS™ portable on-demand storage system, the largest system operator of PDQ fast-casual restaurants, and Custom Cable, one of the fastest growing manufacturers of fiber optic and copper connectivity solutions in the US.
For more information see (www.murraybertron.com)