Health insurer Alan acquires Jour to enter the mental health market

Alan, a health insurance startup based in France, has acquired American digital behavioral health firm, Jour for $20 million. The acquisition has assisted the French health insurer to launch its new digital health service, Alan Mind, helping it to enter into the employee mental wellness market.

According to a press release, Alan Mind will contain patient education information and tools aimed at helping users to practice behavioral and cognitive therapeutic approaches. In addition, users who feel the need to speak with a qualified professional can contact an Alan psychologist through the platform.

To give anonymous reports and follow-ups, the firm will collaborate with HR departments of clients. The tool is intended to assist businesses in identifying pinpoint themes and scheduling preventative seminars.

For the uninitiated, Jour is a mindfulness focused application that presently provides users with a journaling experience. Its users can utilize guided tours created by a practitioner.

In 2019, True Ventures provided $1.8 million in early investment to the firm. It is marketing this new initiative to assist in meeting the increasing need for mental health care.

During COVID-19, anxiety, depression and other mental health concerns increased all across the world. For example, according to research published in Globalization and Health, number of people with anxiety symptoms rose from 17.3 per cent to 20.1 per cent in France, where Alan Mind operates.

The market for employee mental health is expanding. BetterUp, an employer behavioral coaching service, announced the purchase of Motive and Impraise, two data-focused software startups, earlier this week. The firm is also considering expanding into the European market.

Ginger, which provides on-demand mental health counselling and video therapy, is another competitor in the sector. In a Series E investment round, Ginger received $100 million.

Modern Health, an employer-focused mental health tool, also received $74 million in Series D investment in February, while Lyra, a behavioral health benefits platform, received $187 million in Series E funding in January.

Source Credit - https://www.mobihealthnews.com/news/french-insurer-alan-moves-mental-health-jour-acquisition