Foley Represents InnovaTel Telemedicine Company in Sale to Quartet Health
Foley & Lardner LLP served as legal advisor to InnovaTel Telepsychiatry, a provider of virtual mental health care with differentiated expertise in treating complex conditions, in its acquisition by Quartet Health, a tech-enabled mental health care company that works with health plans, systems, and provider groups to deliver speed to quality care for all.
The acquisition of InnovaTel will help Quartet develop market-leading care delivery capabilities to complement its existing ecosystem of high-performing clinicians who practice in-network on behalf of health insurance plans. InnovaTel will also expand its reach to serve members of health plans and systems nationwide through this partnership. Over time, the two companies will expand their virtual care delivery capabilities to more than 30 states by the end of 2022, with an initial focus on providing timely and high-quality access to care for those with serious mental illnesses.
With a shared approach on what defines “quality mental care,” the two companies will leverage Quartet’s four measurement domains – speed to care in hours and days; a seamless patient and clinician experience; improved health outcomes; and lower costs – to develop actionable insights to measure and reward quality physician care.
As one of the nation’s leaders in virtual psychiatric care delivery, InnovaTel has 130 clinicians on staff, 51 percent of whom are prescribers, and 27 percent of whom are clinicians of color. The company’s model of working with community mental health centers to get patients in-network mental health care has improved the capacity to treat patients with mental health needs by anywhere from 5x to 10x.
Nathaniel Lacktman, partner and chair of Foley’s Telemedicine & Digital Health Industry Team, stated, “We are grateful for the opportunity to have worked with InnovaTel the last several years. InnovaTel’s leadership has positioned the company for success not only in this transaction, but for improving mental health for patients across the country.”
“We are thrilled to come together with Quartet Health to build a comprehensive, nationwide solution to help all people – across insurance types and clinical needs – obtain timely access to high-quality care,” said Jonathan Evans, clinical psychologist and InnovaTel’s president and CEO. “We are thankful to the Foley team for their telehealth and overall healthcare industry experience that allowed us to feel confident in this deal.”
The Foley team was led by Partner Nathaniel Lacktman, with support from Senior Counsel Hannah Zaitlin and Associate Matt Deegan.
Foley’s Telemedicine and Digital Health Industry Team helps high-growth and venture-backed companies embrace emerging issues in virtual care, enabling them to provide innovative care for patients in new markets around the block and around the world. Foley is committed to helping entrepreneurs fulfill their goals of harnessing new technology to reach patients anywhere, delivering care without borders or geographic limitations. The Firm helps create fully-fledged telemedicine offerings, providing end-to-end legal services by coupling precise strategic guidance with rapid turnarounds to maintain that sense of urgency necessary to launch new initiatives and remain competitive in the marketplace.
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Foley & Lardner LLP looks beyond the law to focus on the constantly evolving demands facing our clients and their industries. With approximately 1,100 lawyers in 25 offices across the United States, Mexico, Europe and Asia, Foley approaches client service by first understanding our clients’ priorities, objectives and challenges. We work hard to understand our clients’ issues and forge long-term relationships with them to help achieve successful outcomes and solve their legal issues through practical business advice and cutting-edge legal insight. Our clients view us as trusted business advisors because we understand that great legal service is only valuable if it is relevant, practical and beneficial to their businesses.
