Restructuring enhances operations of the leader in online ADHD assessment and diagnosis and positions the company for growth.
GRAND RAPIDS, Mich., July 20, 2023 (Newswire.com)
Mentavi Health, home of ADHD Online and a trailblazer in the telehealth startup ecosystem, is excited to announce a transformative series of developments poised to usher in a new era for the company. These advancements include the formation of a new corporate entity, the securing of a Series AA investment, the establishment of a newly composed board of directors, and the appointment of Keith Brophy as CEO.
The formation of the new corporate entity is a strategic step taken by Mentavi Health and ADHD Online to enhance operations and open doors for further expansion. This new structure will allow for a more streamlined business approach, enhanced legal and financial efficiency, and potential partnerships that can enhance the company’s growth trajectory.
In addition, the company has secured a Series AA round of funding from notable investors led by Wakestream Ventures, including Michigan Capital Network, and Boomerang Ventures. This provides Mentavi Health with the resources to amplify its innovation, expand its reach, and solidify its position in the mental health assessment and treatment market. The round has closed on $2 million to date.
“Mentavi Health’s commitment to increasing patient access and quality mental health care resonates deeply with our mission at Boomerang Ventures. We’re excited to provide critical capital and leverage our network to fuel their growth and make a meaningful impact in the healthcare industry,” said Oscar Moralez, Founder and Managing Partner, Boomerang Ventures, and advisory board member, Mentavi Health.
Additionally, the company is proud to welcome Keith Brophy as its new CEO. Brophy has been previously serving as chief operating officer at the company. With his notable experience in the healthcare and technology industries, including serving as CEO at Ideomed, Sagestone, and leadership roles at large enterprises, Brophy is poised to lead ADHD Online towards its ambitious goals, leveraging his deep patient journey knowledge, dynamic leadership capabilities, and track record of leading scalable innovations in healthcare.
Speaking about his new role, Brophy said, “I’m honored to lead ADHD Online as we navigate this exciting chapter. With our new corporate structure, robust investment backing, and strong team, we are well-positioned to accelerate our mission to help make quality mental health healthcare accessible and affordable for all.”
Rounding out the series of strategic developments, ADHD Online has also formed a new board of directors with extensive strength in healthcare, patient journey, and company building. The board comprises industry leaders and strategic thinkers who will guide the company’s vision and growth. The original founders, Zach Booker and Randy Duthler, MD, who launched the company to provide better ADHD treatment after their own personal experiences with the system, remain on the board to continue to instill vision.
Board Chair and Investor Representative Joe Lampen said: “I am excited to add to the Wakestream Ventures investment in Mentavi Health and poised to help advise the company’s strategy and execution through this next stage of growth.”
About ADHD Online
ADHD Online was founded in 2018 with the mission that everyone should have access to quality ADHD assessments regardless of who and where they are. The ADHD Online team is filled with experts across the United States who share a passion for ADHD and related mental health conditions, and ensuring patients have access to critical mental health services. ADHD Online provides a critical voice for those who might be struggling with ADHD and has a unique offering of HIPAA-secured ADHD assessments online with review and results from licensed psychologists in all 50 states. ADHD Online is a brand under Mentavi Health. Mentavi Health addresses ADHD and adjacent mental health conditions in conjunction with organizational customers.