STAT+: Bankrupt Pear’s addiction treatments acquired by virtual care company
Half a year after selling its assets at bankruptcy auction, Pear Therapeutics’ most significant digital treatments will find a new life as part of PursueCare.
Half a year after selling its assets at bankruptcy auction, Pear Therapeutics’ most significant digital treatments will find a new life as part of PursueCare, which provides online addiction care and mental health counseling.
PursueCare today announced it had raised a $20 million Series B round and that it had acquired Pear’s portfolio of apps that treat people with addiction problems. PursueCare’s CEO Nick Mercadante told STAT the company hopes to develop the market for the treatments where Pear could not, by taking advantage of its access to patients and insurers.
“My view of digital therapeutics is that those point solutions really need a horse to draw the carriage,” he said. “You need a willing and capable service provider that says we’re going to make this a big part of real world care and… then show the health plans how it can save them money in the real world without extra thinking.”
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