Mental health practice launches with US$5.4m in funding

A new mental health practice has launched in New York City to bring a more “personalised” approach to mental health.

Co-founded and led by Dr Allie Sharma, a board certified psychiatrist, Being Health aims to bring a “personalised” approach to mental healthcare that emphasises the impact of both mind and body on a person’s wellbeing.

The practice says it offers a “multi-dimensional” approach and provides access to evidence-based treatments to patients experiencing anxiety, depression, trauma and stress.

“We are combining the best of what is tried and tested in psychiatry with what is new and novel in our field,” said Sharma, Being Health co-founder and chief medical officer.

“More and more Americans are grappling with mental health conditions, with far too many feeling overwhelmed by the burden of navigating their own care.

“At Being Health, we’ve created a modern mental health practice that seamlessly incorporates a diversity of therapeutic approaches including, for example, ketamine infusion therapy for treatment resistant depression or functional medicine combined with nutritional support to optimise both health and mental health outcomes, which we know are inextricably linked.”

Being Health, which provides both in-person and virtual care, has raised US$5.4m to date in funding from 18 Park and HDS Capital.

Haim Dabah, founder of HDS Capital and lead investor, said: “Being Health’s integrated model of care leveraging traditional and novel treatments is positioned to play a leading role in transforming mental health care as we know it.

“By expanding the mental health toolkit and building a team of best-in-class clinicians coupled with gold standard safety protocols, Being Health can serve as a bridge to bring innovative treatments to patients in a safe, clinical environment.”

He continued: “Today, there are more than fifty biotech and pharmaceutical companies investing hundreds of millions of dollars into the development of promising therapeutic applications of novel treatments with approximately thirty clinical trials in Phase II and Phase III with promising results.

“Upon FDA approval, these novel treatments will likely require delivery to patients in clinically-monitored settings. Being Health is poised to become first-to-market to deliver these novel treatments to patients.”

Stephen Dabah, Being Health co-founder and president, added: “Opportunities for enhancing the mental health care system are rapidly expanding and we see ourselves at the forefront of these innovations.

“We are creating a new standard for modern mental health care and are developing an ecosystem for the future delivery of novel treatments as they become FDA-approved.”