Driving Innovation and Expanding Reach to Address the Rising Demand for Mental Health and Substance Use Care
Forge Health, a leading outpatient mental health and substance use care provider, today announced a strategic growth investment from MFO Ventures. The funds will drive the further optimization and expansion of Forge Health’s care platform. This includes enhancing initiatives such as nationwide virtual care integration, comprehensive service offerings, and innovative outreach to underserved populations. This investment also bolsters Forge Health's commitment to providing high-quality, affordable care through advanced digital tools, expanding psycho-oncology services, and forming new partnerships with health systems and payors to deliver tailored, whole-person care.
Founded in 2016, Forge Health is a mission-driven outpatient mental health and substance use care provider dedicated to delivering the highest quality, affordable, and effective “one-stop-shop” care to individuals, families, and communities in need, especially those with moderate to severe conditions. The Company is in-network with over 30 commercial and government health plans, and through new and expanded population health partnerships with leading health plans and health systems, Forge now manages more than 300,000 members under its value-based partnership model.
“We are thrilled to partner with MFO Ventures as we continue to revolutionize the behavioral health landscape,” said Eric Frieman, Co-Founder and CEO of Forge Health. “MFO’s extensive provider-focused experience and success in building transformative companies and driving healthcare innovation make them the perfect partner as we optimize our platform and expand our reach. This investment will solidify our position as a market leader and serve as the catalyst for new groundbreaking partnerships.”
Forge Health has a history of successfully partnering with key industry stakeholders to deliver transformative, value-based mental health and substance use care to increase access, lower costs, improve care quality, and provide an exceptional patient experience. Forge operates clinics in New Jersey, New York, Pennsylvania, Massachusetts, and New Hampshire that provide both in-person and digital mental health and substance use care when and where clients need it – delivered virtually or in-person at beautifully-designed, welcoming technology-enabled offices. The Forge care model utilizes multidisciplinary clinical teams, data analytics, and streamlined care delivery to provide individualized, whole-person care that addresses mental health and substance use issues concurrently, while also driving improved health outcomes.
“We have a heartfelt appreciation for what Forge Health is doing and the transformative potential they hold,” said Jeremy Moskow, Partner at MFO Ventures. “Our partnership with Forge goes much beyond a capital investment. It is about supporting a dedicated and experienced team as they lead the charge in reshaping how behavioral health is perceived and delivered. We are excited to bring our experience to this partnership, accelerating Forge’s growth and enhancing their ability to deliver innovative and effective care.”
The strategic investment from MFO Ventures not only provides the financial resources to fuel Forge Health's expansion but also brings together a wealth of value-based care expertise and vision. As Forge continues to grow and innovate, the combined efforts of its leadership and the support from MFO Ventures and HC9 Ventures will drive forward the mission to vastly improve behavioral health care.
“We are deeply committed to supporting Forge Health's mission of transforming behavioral health care,” said Paul Martino, Board Chair at Forge Health. “Forge's innovative care model has already demonstrated significant positive impacts on clinical outcomes. With the strategic growth investment from MFO Ventures, we are even more excited about the potential to amplify Forge's reach and effectiveness. Together, we aim to revolutionize how behavioral health is viewed and delivered, making comprehensive, integrated care accessible to all who need it. The potential for meaningful change is tremendous, and I am excited to contribute to this transformative journey.”
The financing comes as Forge continues to scale rapidly and follows exciting news from April 2024, as the company expands its programming to include a new psycho-oncology offering and will work with payors, health systems and oncologists to offer integrated and coordinated mental health and substance use support to individuals battling cancer. This includes 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 and fast-growing companies across healthcare. The investment strategy of the family office is engineered to capitalize on the experience and knowledge gained from prior successful businesses owned and operated by the Moskow family.
For more information about MFO Ventures, please visit https://www.mfoventures.com/.
About Forge Health
Forge Health is a mission-driven company dedicated to delivering 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 utilizes multidisciplinary clinical teams, data analytics, and streamlined care delivery to provide individualized, whole-person care that concurrently addresses mental health and substance use issues while driving improved health outcomes. As the first and only behavioral healthcare provider with a proven, national payor-validated ability to drive clinical outcomes that span all areas of health, Forge Health is leading the charge in driving innovation, improving care delivery, and shaping the future of behavioral healthcare.
For more information about Forge Health and their comprehensive mental health support services, please visit https://forgehealth.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240822762473/en/
Contacts
Media:
Erik Milster
emilster@seriesmpr.com
