Iris Telehealth Expands Reach with innovaTel Acquisition
Deal News | Jan 21, 2025 | Concord Health Partners LLC

Iris Telehealth, a major provider of behavioral health services, has acquired innovaTel, a division of Quartet Health. This acquisition represents a significant move within the telepsychiatry sector, intending to expand access to quality mental healthcare across the U.S., particularly in underserved areas with mental health provider shortages. The acquisition aligns with Iris Telehealth's vision to address the nation's behavioral health crisis by scaling its resources and technologies. Both Iris and innovaTel have established credibility in providing high-quality, partner-focused mental health services, and their union is expected to enhance the delivery and quality of care further. This move is a strategic consolidation aimed at achieving scale and sustainability in the behavioral health industry, enabling better outcomes in the face of systemic challenges such as clinician shortages. Backed by Canyon Healthcare Partners, innovaTel brings a nationwide network of qualified mental health professionals to Iris's offerings, expanding care possibilities in all 50 states.
Sectors
- Healthcare Services
- Telemedicine
- Private Equity
Geography
- United States – The activities and expansion plans discussed in the article are primarily focused on addressing mental health shortages across the U.S.
Industry
- Healthcare Services – The article discusses the expansion of telepsychiatry services, directly involving the healthcare services sector, focusing on behavioral health and mental healthcare delivery.
- Telemedicine – This is relevant because the article is centered around the growth and strategic movements in the telemedicine field, specifically telepsychiatry services.
- Private Equity – The involvement of Concord Health Partners and Canyon Healthcare Partners in the transaction highlights the role of private equity in healthcare investment and strategic growth.
Financials
Participants
Name | Role | Type | Description |
---|---|---|---|
Iris Telehealth | Acquirer | Company | A leading provider of transformative behavioral health services, focusing on expanding access and improving mental healthcare. |
innovaTel | Target company | Company | A division of Quartet Health, innovaTel is a telepsychiatry provider known for its strong clinical service delivery and nationwide network of mental health professionals. |
Quartet Health | Seller | Company | innovaTel is a division of this company, which focuses on enhancing mental healthcare services through innovative solutions. |
Concord Health Partners LLC | Private Equity Firm | Company | A private equity firm facilitating strategic investments in health and wellness sectors. |
Canyon Healthcare Partners | Investment Firm | Company | A private equity firm backing innovaTel, focusing on innovative healthcare delivery solutions. |