Driving innovation and expanding reach to meet growing demand for mental health and substance use care
WHITE PLAINS, N.Y., Aug. 22, 2024 (BUSINESS WIRE) — Forge Health, a leading provider of outpatient mental health and substance use care, today announced a strategic growth investment from MFO Ventures. The funding will drive further optimization and expansion of Forge Health's care platform, including strengthening efforts such as integrating virtual care nationwide, comprehensive service delivery and innovative outreach to underserved populations. The investment also strengthens Forge Health's commitment to providing high-quality, affordable care through advanced digital tools, expanding psycho-oncology services and forging new partnerships with health systems and payers to deliver customized, whole-person care.
Founded in 2016, Forge Health is a mission-driven outpatient mental health and substance use care provider dedicated to providing the highest quality, affordable and effective “one-stop shop” care to individuals, families and communities experiencing moderate to severe symptoms. The company partners with more than 30 private and government health insurance plans, and through new and expanded population health partnerships with leading health plans and health systems, Forge currently manages more than 300,000 members under a value-based partnership model.
“We are excited to partner with MFO Ventures as we continue to revolutionize the behavioral health space,” said Eric Freeman, co-founder and CEO of Forge Health. “MFO's extensive provider-focused experience and success in building transformative companies and driving innovation in healthcare make them the perfect partner as we optimize our platform and expand our reach. This investment solidifies our market leadership position and will serve as the catalyst for exciting new partnerships.”
Forge Health has a proven track record of partnering with key industry stakeholders to deliver transformational, value-based mental health and substance use care that improves access, reduces costs, enhances quality of care, and provides a superior patient experience. Forge operates clinics in New Jersey, New York, Pennsylvania, Massachusetts, and New Hampshire, providing both in-person and digital mental health and substance use care when and where clients need it. Care is delivered virtually or in-person in beautifully designed, inviting, technology-enabled offices. Forge's care model utilizes multidisciplinary clinical teams, data analytics, and streamlined care delivery to simultaneously address mental health and substance use issues, providing personalized, whole-person care that drives improved health outcomes.
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“We truly appreciate Forge Health's work and the transformative potential they have,” said Jeremy Moskow, Partner at MFO Ventures. “Our partnership with Forge is much more than a capital investment — it's about supporting a dedicated and experienced team that is leading the way in reimagining how behavioral health is perceived and delivered. We're excited to bring our experience to this partnership to accelerate Forge's growth and strengthen its ability to deliver innovative, effective care.”
“The strategic investment from MFO Ventures not only provides capital to drive Forge Health's expansion, it also brings together a wealth of expertise and vision in value-based care. As Forge continues to grow and innovate, the collaborative efforts of the company's leadership and support from MFO Ventures and HC9 Ventures will advance its mission to dramatically improve behavioral health care.”
“We are committed to supporting Forge Health's mission to transform behavioral health care,” said Paul Martino, chairman of the board of directors for Forge Health. “Forge's innovative care model is already having a significant positive impact on clinical outcomes, and with this strategic growth investment from MFO Ventures, we are even more excited about the potential to expand Forge's reach and effectiveness. Together, we aim to revolutionize the way behavioral health care is viewed and delivered, making comprehensive, integrated care accessible to all who need it. The potential for meaningful change is enormous, and I am excited to be a part of this transformational journey.”
This funding comes as Forge continues its rapid expansion and follows exciting news in April 2024: The company is expanding its programs to include new psycho-oncology services and will work with payers, health systems and oncologists to provide integrated and coordinated mental health and substance use support to individuals battling cancer, including one-on-one support and counseling, flexible care options such as virtual appointments, and specialized support for patients and caregivers.
About MFO Ventures
Founded in 2022, MFO Ventures is a Florida-based family office focused on investing in early-stage, high-growth companies in the healthcare sector. The family office's investment strategy is designed to leverage the experience and knowledge gained from previous successful companies owned and operated by the Moskow family.
For more information about MFO Ventures, please visit https://www.mfoventures.com/.
About ForgeHealth
Forge Health is a company with a mission to provide the highest quality, affordable, accessible and effective “one-stop shop” mental health and substance use care to individuals, families and communities in need. The Forge care model leverages multidisciplinary clinical teams, data analytics and streamlined care delivery to provide personalized, whole-person care that simultaneously addresses mental health and substance use issues while driving improved health outcomes. As the first and only behavioral health provider with a demonstrated ability to drive clinical outcomes across all areas of health and validated by a national payer, Forge Health is leading the way in driving innovation, improving care delivery and shaping the future of behavioral health care.
To learn more about Forge Health and its comprehensive mental health support services, visit https://forgehealth.com/
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