Tukwila, Washington-based Genoa, a QoL Healthcare Company, a behavioral health specialty pharmacy chain, has acquired New York City-based 1DocWay, which has developed a telepsychiatry network.
1DocWay helped providers offer remote visits to their patients through a browser-based videoconferencing tool that could be used on smartphones, tablets, and desktops. While 1DocWay never thought of itself as a direct-to-consumer company, it did help consumers schedule appointments online with mental health professionals from its main site.
“There are currently over 4,000 mental health professional shortage areas nationally and we will need to be creative to solve this problem," Genoa EVP of Strategy and Corporate Development Mark Peterson said in a statement. "Genoa has worked with our partners for over 15 years to deliver innovative solutions for the unique needs of the behavioral health community. When our partners suggested that we help them find novel remedies to their shortage of psychiatrists, we set out to find ways to assist. We believe telepsychiatry can be a key answer as its early adopters have touted its acceptance and efficacy in delivering accessible and quality mental health care.”
Genoa plans to launch Genoa Telepsychiatry using 1DocWay's offering.
Genoa, a QoL Healthcare Company was formed after a merger in 2014 between Genoa Healthcare and QoL Meds. The company operates 280 pharmacies in 38 states and Washington DC. It serves more than 400,000 individuals and fills more than 9 million prescriptions annually.
1DocWay, which raised $1.7 million in July, from iSeedVC, Rock Health, Asset Management, Great Oaks Venture Capital, and Waterline Ventures, developed a telepsychiatry network that connects hospitals with community health centers, skilled nursing facilities, military bases, critical access hospitals, and other underserved care settings to offer patients mental health services.
Since launching in 2011, 1DocWay’s offering helped treat 25,000 patients across 11 states — Arkansas, California, Colorado, Illinois, Indiana, Kansas, Minnesota, Missouri, Nevada, New Mexico, North Carolina, Oregon, Pennsylvania, Texas, and Washington. Some of the company’s customers include Community Health Systems, Acadia Healthcare, Strategic Behavioral Health, and BJC HealthCare.