Kaden Health Announces Strategic Investment by Magellan Health
Collaboration to Leverage Kaden's Advanced Digital Behavioral Treatment Platform and Virtual Program to Reduce Barriers and Improve Patient Accessibility and Outcomes
NEW YORK, Oct. 29, 2020 /PRNewswire-PRWeb/ -- Kaden Health, Inc. (Kaden) announced today that Magellan Health, Inc. (NASDAQ: MGLN) has made a strategic minority equity investment in the New York-based digital behavioral health company. Through the collaboration, Kaden's proprietary behavioral telehealth program and platform will be provided to Magellan's customers, members and patients as well as providers.
Kaden's advanced technologies position the company as a prime enabler for Magellan in providing behavioral health services at scale and virtually – a key consideration given the COVID-19 epidemic which has only accelerated the need to increase access to effective, evidence-based mental health services. Kaden's platform – initially applied for the treatment of patients with opioid use disorder and currently available in New Jersey, New York and New Hampshire – brings important capabilities to Magellan that will enhance interactions with members, including collaborative care.
"We are pleased and excited to collaborate with Magellan as Kaden continues to develop and implement advanced technologies and clinical programs supporting those in need of behavioral health support and treatment for substance use disorders," said Dave Henderson, co-founder and CEO of Kaden. "Both the investment and the business relationship magnify our ability to make access to treatment possible wherever people may be, and to help providers significantly enhance their practices with our purpose-built behavioral telehealth platform."
"As a leading independent payer services company, Magellan Health is driving innovation into the behavioral health market through the acceleration of digital capabilities that will enhance the patient experience across the care continuum," said Kenneth Fasola, Chief Executive Officer of Magellan Health. "A tremendous need exists to bring virtual behavioral health solutions to members, and the COVID-19 pandemic has only heightened this need. Our relationship with Kaden will allow us to integrate digital features into new models of behavioral healthcare, demonstrating our ability to offer disruptive, comprehensive and integrated complex care services and insights to our members and clients."
Kaden delivers its Virtual Medication Assisted Treatment (vMAT) program through its network of affiliated providers throughout the country. The Kaden vMAT program is a fully integrated approach to treating those suffering from opioid use disorder based on the gold standard of Medication Assisted Treatment and leveraging Kaden's advanced, proprietary virtual technology, which provides a convenient, intuitive and data-driven treatment path for patients. Kaden also makes its HIPAA-compliant behavioral telehealth platform available directly to non-affiliated providers as a stand-alone tailored solution which can be quickly and seamlessly implemented to provide material benefit when compared to the use of general videoconferencing or generic telehealth platforms.
"This investment by Magellan supports and affirms our goal to provide unfettered access to populations in need of treatment," said Aran Ron, M.D, co-founder and Head of Clinical Innovation at Kaden. "This collaboration helps further our vision to fundamentally transform how effective behavioral health treatments are delivered through the insight and transparency achieved through Kaden's artificial intelligence, emotional analytics, and real-time reporting, all of which are industry-firsts."
Kaden's coordinated approach to vMAT is centered, from the first visit with a medical professional through all succeeding virtual visits and therapy, on the Kaden Technology Platform. This leading-edge intuitive interface allows the patient, therapist, medical prescriber, and the advocate all to communicate and collaborate in ways that ultimately help the patient to reclaim a healthy, productive lifestyle.
After the first visit with a prescriber, a patient can then attend all following medical and therapy appointments using any smartphone, tablet, or PC with an internet connection from the comfort of their homes or any convenient and private location.
Match Point Partners LLC led by Brad Burkett, Managing Partner, acted as financial advisor to Kaden in this transaction.
Kaden Health is a portfolio company of Leverage Health Solutions, which has been engaged since 2018.
About Kaden:
Based in New York City, Kaden is a data-driven digital behavioral health services company dedicated to addressing strategic marketplace issues with a focus on developing advanced technologies as well as innovative service offerings and products that reduce costs, improve quality, encourage engagement and produce better outcomes. Kaden's first product tackles the opioid addiction crisis by positively influencing human behavior and making advanced technologies and proven treatments accessible to all. Kaden was founded by Dave Henderson, Aran Ron, M.D. and Steve Kessler in 2018. For more information, visit http://www.kadenhealth.com or call 888-88-KADEN.
Company Contact:
Kaden Marketing and Public Relations: Marc Warner ([email protected])
SOURCE Kaden Health
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