News: Calm acquires Ripple Health Group; appoints new co-CEO

Leadership

Calm acquires Ripple Health Group; appoints new co-CEO

According to the company’s statement, the term of the deal has been undisclosed. Recently the relaxation app was valued at $2 billions.
Calm acquires Ripple Health Group; appoints new co-CEO

Meditation app Calm has announced that it is acquiring healthcare technology company Ripple Health Group. It was also announced that following the acquisition, Ripple Health Group CEO David Ko will take the role of Calm co-CEO, alongside Michael Acton Smith while Calm co-founder Alex Tew will move from co-CEO to executive chairman. According to the company,  the acquisition will accelerate its mental health care ambitions with the newly acquired team kickstarting by building Calm Health.

According to the company statement, Calm Health will replace the existing offering, Calm for Business. The Ripple team will also be tasked with developing a suite of Calm Health that will integrate into current healthcare technology and would be secure to use.

Commenting on the new development, Calm’s new co-CEO, David Ko said,” As an advisor to Calm since 2019, I’ve witnessed firsthand the team’s ability to pioneer the future of mental health, redefining both the category and the distribution channel, Calm is on a mission to make the world happier and healthier. I can’t think of a better fit for Ripple’s team and technology. We’re incredibly honored to join the company. I’m excited to work alongside Michael to bring Calm to healthcare.”

Founded in 2019, Ripple connects users with proper healthcare options and builds solutions that address pressing health problems. Ripple’s first two products, which launched last month, focus on aging in society and alleviating the burden of caregiving for both professional and non-professional caregivers.

Before joining Ripple, Ko was the president, COO and board member of Rally Health, a digital health company that develops mobile solutions that aim to make it easier for consumers to access care.

“David’s business acumen, operational excellence and proven record scaling healthcare companies will be invaluable for Calm as we enter into new ventures and shape the future of the category,” said Calm co-CEO and co-founder Michael Acton Smith.

The acquisition news comes weeks after the relaxation app launched it’s ‘daily move’ feature where it guides users through simple exercise to get moving and start their day. In December 2020, Calm raised $75 million in Series C funding, pushing the company’s valuation to $2 billion.

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Topics: Leadership, #MergersAndAcquisitions

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