Big Health, one of the leading companies producing apps to help treat mental health conditions, on Thursday announced it acquired Limbix, developer of a prescription app for adolescent depression.
The terms of the deal were not disclosed, but the acquisition comes at a time when many digital health companies are running into trouble raising money. Developers of prescription digital therapeutics, in particular, have been reeling. Limbix last raised $15 million in late 2021, at the peak of the digital health fundraising boom.
Big Health CEO Arun Gupta said that his company has repeatedly heard from employer and health plan customers that they need a solution for adolescent mental health, an area where there’s growing need and care is hard to find. Limbix recently completed a pivotal clinical trial of its depression treatment, SparkRx, and also has an early-stage product in development to treat adolescent anxiety.