MISOHE, a user experience-driven mental health and wellness app platform, was built using insights from data and science-driven intelligence. Its on-demand teleconsultations and self-care-based platform for mental health solutions makes use of therapists and psychiatrists who collaborate to provide personalised face-to-face attention to users through their iOS and Android mobile applications and the website.
Over 1 billion people worldwide suffer from a mental health issue, and the estimated loss of productivity due to two of the most common, anxiety and depression, is about
This new proposed business vertical in CHS will focus beyond the present mediums to 'providing the full spectrum of virtual support' – from self-care, behavioural coaching, to video-based therapy.
In addition, CHS is currently planning to adapt MISOHE's telehealth platform outside of
The board of CHS proposes to launch the mental health-focused telehealth platform in the US. CHS anticipates leveraging its existing relationships with US-based insurers to provide its platform for use and proposes to implement a B2B2C strategy to onboard health practice providers and reach end consumers.
Drawing on 20 years of legacy prowess in the US health-tech market, CHS believes that the technology platform along with leadership from MISOHE will provide a comprehensive, scalable and economical mental health and wellness platform, targeting the direct to consumer, employer and institutional markets.
"This combination provides a great timely opportunity for our tech platform. The caliber of CHS's reach is expected to complement the technology strength of MISOHE. The COVID-19 pandemic has put a spotlight on telehealth, pushing what was once a minor part of healthcare into the mainstream. The health-tech segment is expected to grow at a CAGR (compound annual growth rate) of 39% to touch
"The current unstable global environment resulting from disruptions related to the COVID-19 pandemic has only magnified a growing mental health crisis. Telehealth has cemented itself permanently as an efficient and convenient medium to dispense healthcare services globally, and the MISOHE platform is anticipated to enable CHS to enter the future of healthcare. It is crucial that treatment options become more accessible and convenient to improve health outcomes and reduce disparities. Telehealth provides a much-needed solution, connecting users and providers on an international scale across multiple locations such as the home, private spaces or clinical settings. At CHS we are dedicated to supporting mental well-being, and the proposed on-demand platform will help address the demand for services that is not currently being met by traditional care and its delivery methods." CHS President and CEO Dr.
The completion of the Acquisition is subject to a number of conditions precedent, including but not limited to, the completion to the satisfaction of CHS of due diligence, the negotiation and execution of definitive documentation, and the approval of the
To view information about the Company and subscribe to automated email alerts for future news and public filings, visit the CHS website at www.comphealthsys.com.
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