MARLTON, NJ and GREENWICH, CT – Harbour Point Capital (Harbour Point) announced that they have led a growth recapitalization of InSight Telepsychiatry (InSight or the Company), the leading national telepsychiatry services provider organization. The Company’s founders, including Chief Medical Officer Dr. Jim Varrell, and InSight CEO Geoffrey Boyce, have reinvested the majority of their holdings and will remain significant shareholders in InSight.
“The InSight team has done a fantastic job of building a clinically-focused organization that is highly regarded by both the mental health provider community and InSight’s facility partners. We are excited to partner with Geoffrey and the management team for this next phase of growth and to help InSight continue to improve access to mental health care for underserved individuals, facilities and communities,” said Robert Juneja, Co-Founder and Partner of Harbour Point Capital.
“This is a momentous step for InSight as we gain financial support and operational expertise from Harbour Point that will help us further our mission of using technology to transform access to timely, quality psychiatric care for all,” says InSight CEO Geoffrey Boyce.
InSight addresses fundamental challenges related to timely access to mental health care for both emergency departments (EDs) and community mental health centers (CMHCs). The company’s on-demand telepsychiatry division provides emergency departments with timely psychiatric consults, enabling quicker access to care and significantly improving the throughput of EDs. InSight’s scheduled telepsychiatry services division provides CMHCs and other community-based settings with much needed access to psychiatric services and specialists in underserved communities. InSight also has a direct-to-consumer telebehavioral health division, Inpathy, that offers psychiatry and behavioral health services directly to non-acute individuals in their homes or other private settings.
The InSight team began providing telepsychiatry services in 1999 within the CFG Health Network, an organization that remains an InSight partner. Since then, InSight has established itself as a clear market leader within the telepsychiatry sector with the company serving patients in hundreds of facilities and care settings across the country. With Harbour Point Capital’s investment, InSight will continue to build upon its market leading position by accelerating growth in both existing and new geographies and increasing its established base of psychiatrists and psychiatric nurse practitioners. Organizations in partnership with InSight can continue to expect consistent and quality service, with additional resources that will be laser focused on delivering dependable, best-of-class care.
About InSight + Regroup
InSight + Regroup (now Array Behavioral Care) is the leading and largest telepsychiatry service provider in the US with a mission to transform access to quality behavioral health care. InSight + Regroup serves hundreds of organizations and individuals in various settings across the continuum of care with its on-demand, scheduled services and direct-to-consumer (Inpathy) divisions. Given its size, diversity of services and extensive experience and expertise, InSight + Regroup is uniquely positioned to enable scalable telepsychiatry programs across the care continuum. As an industry thought leader, InSight + Regroup has helped shape the field, define the standard of care and advocate for improved telepsychiatry-friendly regulations. To learn more, visit www.arraybc.com.
About Harbour Point Capital
Harbour Point Capital is a private equity investment firm that partners with the founders and executives of innovative, high-growth healthcare services companies. Harbour Point Capital invests in companies that deliver value to the healthcare system by improving access and enabling the provision of higher quality care at lower unit cost. For more information, please visit: www.harbourpointcapital.com
About CFG Health Network
CFG is a broad based healthcare provider that is dedicated to increasing access to care via innovative applications of technology like telepsychiatry and virtual environments. The CFG Health Network includes Center for Family Guidance, CFG Health Systems and CFG Residentials. For more information please visit: www.cfghealthnetwork.com
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