Harbour Point Capital (Harbour Point) has led a growth recapitalisation of InSight Telepsychiatry (InSight), a national telepsychiatry services provider organisation.
The Company’s founders, including Chief Medical Officer Dr Jim Varrell, and InSight CEO Geoffrey Boyce, have reinvested the majority of their holdings and will remain significant shareholders in InSight.
“The InSight team has done a fantastic job of building a clinically-focussed organisation that is highly regarded by both the mental health provider community and InSight’s facility partners We are excited to partner with Geoffrey and the management team for this next phase of growth and to help InSight continue to improve access to mental health care for underserved individuals, facilities and communities,” says Robert Juneja, Co-Founder and Partner of Harbour Point Capital.
“This is a momentous step for InSight as we gain financial support and operational expertise from Harbour Point that will help us further our mission of using technology to transform access to timely, quality psychiatric care for all,” says InSight CEO Geoffrey Boyce.
InSight addresses fundamental challenges related to timely access to mental health care for both emergency departments (EDs) and community mental health centres (CMHCs). The company’s on-demand tele-psychiatry division provides emergency departments with timely psychiatric consults, enabling quicker access to care and significantly improving the throughput of EDs. InSight’s scheduled tele-psychiatry services division provides CMHCs and other community-based settings with much needed access to psychiatric services and specialists in underserved communities. InSight also has a direct-to-consumer tele-behavioural health division, Inpathy, that offers psychiatry and behavioural health services directly to non-acute individuals in their homes or other private settings.
The InSight team began providing tele-psychiatry services in 1999 within the CFG Health Network, an organisation that remains an InSight partner. Since then, InSight has established itself as a clear market leader within the tele-psychiatry sector with the company serving patients in hundreds of facilities and care settings across the country. With Harbour Point Capital’s investment, InSight will continue to build upon its market leading position by accelerating growth in both existing and new geographies and increasing its established base of psychiatrists and psychiatric nurse practitioners. Organisations in partnership with InSight can continue to expect consistent and quality service, with additional resources that will be laser focused on delivering dependable, best-of-class care.