CIBC Innovation Banking completed a new growth capital financing for California-based Mindful Health Solutions, a provider of mental health services geared toward treatment-resistant depression. The funding will enable the company to expand into new locations across the United States.
With more than 15 clinic locations across California, Norwest Venture Partners-backed Mindful Health Solutions was founded in 2007 by Dr. Richard Bermudes, whose vision incorporates patient access to advanced treatments methods such as transcranial magnetic stimulation (TMS) and esketamine nasal spray while simultaneously educating the community about mental health.
“Mental health impacts one in five adults in the United States, and the pandemic has made mental health services such as those provided by Mindful Health Solutions more important than ever,” Youssef Kabbani, director at CIBC Innovation Banking, said. “We are proud to support this company whose purpose is to broaden pathways to treating depression and to make it accessible to all those in need.”
Mindful Health Solutions will continue to provide care with the focus of an academic research institution while expanding its footprint into new regions and communities.
“We are excited to have CIBC’s support, as this affords us the ability to expand into other parts of California and into other states,” Ryan Jessop, CFO of Mindful Health Solutions, said. “Growth helps us deliver upon our mission of providing access to high-quality mental health care for those who are struggling with mental health conditions.”
