New Funding, Led by Bread & Butter Ventures, Empowers Telehealth Service Provider to Offer Solutions for Patients with Serious and Treatment-Resistant Mental Illnesses
LOS ANGELES, November 1, 2022 /PRNewswire/ — MD optionsa telehealth startup providing high-quality care for treatment-resistant depression (TRD), announced today $2.35M in funding, bringing their total pre-seed funding to nearly $4 million. The tour was led by Bread and butter companiesalongside the participation of M13, Bright companies and Collaborative capital. MedMountain Ventures and Tech Stars also reinvested in the business. In addition, Options MD received $100,000 from Google for Startups Latino Founders Fund. The funding will allow Options MD to increase patient access to critical care and treatments that treat serious and treatment-resistant mental illnesses.
With a team of medical researchers and clinical experts specializing in DRT, Options MD offers a unique personalized model of care, including proprietary treatment matching software, allowing patients unparalleled access to innovative treatments. Highly specialized clinicians organize treatment plans based on research and focused on higher quality care, including more than 200 treatments ranging from pharmacological protocols and evidence-based behavioral treatments to non-pharmaceutical methodologies and mode changes. life.
Co-founders of Options MD, Morgan Hewitt and Kyle Pierceare on a mission to prevent thousands of suicide deaths by tackling the $64 billion white space which is treatment resistant mental illnesses. After observing family and friends struggling with mental health issues firsthand, Options MD was launched as a resource to provide personalized care to mental health patients deemed “treatment resistant” by doctors. With a background in healthcare marketing, technology, data privacy and health technology law, Hewett and Pierce are black, queer and Latinx co-founders who have broken down barriers to be among only 2 .4% of founders like them who received VC funding.
Kyle Pierceco-founder of Options MD, said: “Options MD is tackling the white space that exists for the approximately thirty-two million patients who are the most difficult for the mental health system – those struggling with serious, treatment-resistant mental illnesses. Unlike Host to mental health platforms that focus only on patients with milder mental health conditions, Options MD is committed to supporting patients diagnosed with the most serious and chronic cases of mental illness. patients failed to respond to two or more drugs of adequate dosage or duration.
Morgan Hewittco-founder of Options MD, said: “Instead of being pressured into offering just one or two treatments, at Options MD we believe that care should be comprehensive and personalized. Through our virtual platform, we power one of the largest communities in the country for treatment-resistant depression. We are focused on providing high-quality, high-quality care to this historically difficult-to-treat patient population.”
Recent reports show that the US telehealth market size was valued at US$23.8 billion in 2021 and is expected to reach US$309.9 billion by 2030. The global COVID-19 pandemic has led to increased demand for accessible healthcare solutions for patients when they need them most. Answering the call for solutions that provide accessible quality care, Options MD has launched its virtual platform to ensure people with mental illness have a space to connect with clinicians and treatments tailored to their needs.
dr. Carl MarciMedical Advisor, Options MD, said: “The average patient in the Options MD community has suffered from chronic depression for 10 years, has tried seven medications, and is in a state of despair by the time they access Options MD. By combining digital assessments with human interactions and advanced care planning, Options MD is uniquely positioned to impact one of mental health’s most critical populations. »
Mary Grovemanaging partner at Bread & Butter Ventures, said“Options MD’s mission resonates through its transformative approach to bringing together care navigation, clinical treatment, and community support for people with treatment-resistant depression. Bread & Butter Ventures’ investment in Options MD underscores our confidence in its leadership team to succeed in the mission to democratize access to quality care for patients who are sorely lacking in effective options in today’s market and to drive disruption and innovation in the industry behavioral health.
The pre-seed funding will allow for the expansion of clinical operations and medical research in addition to enhancing Options MD’s proprietary clinical protocols.
To learn more about Options MD, visit www.optionsmd.com.
Options MD™ is a telehealth company that connects patients to mental health care and treatment options that address serious and treatment-resistant mental illnesses. Our bold mission is to help patients and clinicians access cutting-edge solutions to inform treatment for a disproportionately impacted but underserved patient population. With highly specialized clinicians and medical researchers combined with unparalleled treatment-matching software, patients with treatment-resistant depression can access more than 200 treatment options, including pharmaceuticals, intensive behavioral therapies, non-pharmaceutical methodologies and lifestyle changes. Learn more about MD.com options.
This press release and all statements herein may contain forward-looking statements regarding MD Options. Forward-looking statements provide current expectations or forecasts of future events and may include statements regarding results, anticipated synergies and other future expectations. These statements involve risks and uncertainties, including factors beyond MD Options’ control that may cause actual results to differ materially. MD Options assumes no obligation to update or revise the statements made herein, whether as a result of new information, future events or otherwise.
 Source: Dawn F. Ionescudoctor, Jerrold F. RosenbaumDM*, Jonathan E. AlpertMD, PhD, 2015. Pharmacological approaches to the challenge of treatment-resistant depression. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4518696/
 Source: Advisor Nova One. US Telehealth Market Size, Share and Trends Analysis Report. 2022. https://www.novaoneadvisor.com/toc/us-telehealth-market
 Source: MD Options. Unpublished internal data and insights. 2022.
SOURCE MD Options