Forge Health, a prominent outpatient addiction treatment and mental health provider based in White Plains, New York, has announced a new partnership with MFO Ventures. The investment, the terms of which remain undisclosed, is set to propel Forge Health’s efforts to expand its platform and enhance the scope of its services. This influx of capital will be specifically allocated to initiatives such as integrating virtual care for mental health, ramping up outreach efforts, and securing new payer partnerships. The company is positioning itself as a leader in behavioral health by providing integrated and accessible care to those struggling with mental health and substance use disorders.
In a press release announcing the funding, Paul Martino, Board Chair at Forge Health, emphasized the transformative potential of the partnership: “Together, we aim to revolutionize how behavioral health is viewed and delivered, making comprehensive, integrated care accessible to all who need it. The potential for meaningful change is tremendous.” Forge Health’s mission to make behavioral health treatment more comprehensive, accessible, and integrated reflects the company’s vision for a future where all individuals receive the care they need to improve their mental health and overcome addiction.
The Forge Health Model: A One-Stop-Shop for Behavioral Health
Forge Health’s approach to behavioral health care is distinctive and ambitious. Rather than treating mental illness and substance use disorders separately, Forge offers an integrated, holistic service that simultaneously addresses both. This dual focus provides patients with more comprehensive treatment, enabling better long-term outcomes. With a growing emphasis on value-based care—where providers are incentivized to improve patient health outcomes rather than simply providing a high volume of services—Forge Health is at the forefront of the shift toward more sustainable and patient-centered care models.
As of now, Forge Health serves approximately 300,000 patients who are covered through a value-based care arrangement. Most of these patients are enrolled in commercial health plans, which accounted for 85% of its partnerships at the close of 2023. By working with commercial health plans, Forge Health is able to deliver high-quality care while maintaining a focus on cost efficiency and long-term health outcomes for its patients.
This model aligns with the growing demand for integrated care that meets the needs of individuals struggling with both addiction and mental health conditions, which often co-occur. By offering both in-person and telehealth services in multiple states—New Jersey, New York, Pennsylvania, Massachusetts, and New Hampshire—Forge Health ensures that its patients have access to the care they need regardless of their location. The company is also heavily focused on virtual care for mental health, a service that has proven to increase accessibility for patients in underserved areas.
The Strategic Importance of the MFO Ventures Partnership
The investment from MFO Ventures, a Florida-based family office known for its focus on healthcare innovation, marks a pivotal moment for Forge Health. Eric Frieman, co-founder and CEO of Forge Health, spoke highly of MFO Ventures’ expertise and the strategic value the firm brings: “MFO’s extensive provider-focused experience and success in building transformative companies and driving healthcare innovation make them the perfect partner as we optimize our platform and expand our reach. This investment will solidify our position as a market leader and serve as the catalyst for new groundbreaking partnerships.”
MFO Ventures specializes in supporting early-stage, fast-growing health companies. Their portfolio is filled with innovative healthcare startups, and their deep understanding of the provider landscape will help Forge Health continue to optimize its platform and accelerate its growth. As the demand for behavioral health services increases and the need for innovative care solutions becomes more apparent, MFO Ventures’ support will allow Forge Health to scale its operations and enhance its offerings. This includes increasing its capacity for virtual care for mental health, ensuring more patients can access quality care from the comfort of their homes.
Forge Health’s commitment to comprehensive care, alongside its focus on increasing access to services, is in line with a broader national trend toward improving mental health and addiction treatment. As public awareness of behavioral health issues grows, more people are seeking out services to address their needs. The investment from MFO Ventures provides Forge Health with the resources to meet this demand and further its mission of making behavioral health care accessible to all, especially through platforms that support virtual care for mental health.
Expanding to Meet Growing Demand: Forge Health’s Recent Growth and Future Plans
Forge Health has already demonstrated impressive growth. Earlier this year, the company expanded its services into the oncology space, broadening its reach and supporting cancer patients and their families with critical behavioral health care during a particularly challenging period. This expansion reflects the company’s commitment to continuously adapt and address emerging healthcare needs.
Forge Health’s growth over the past few years has been nothing short of remarkable. The company was recently recognized as one of the fastest-growing private companies in the United States. In fact, Forge Health ranked #1,722 on the Inc. 5000 list, which highlights the fastest-growing private companies across a wide range of industries. From 2019 to 2022, Forge Health’s revenue increased by an extraordinary 324%, underscoring the company’s ability to effectively scale and meet the needs of an expanding patient base. This rapid growth also highlights the increasing demand for integrated, value-based care models in the behavioral health sector.
In 2022, Forge Health raised approximately $21.5 million in venture capital funding across two separate rounds. At that time, the company’s primary investor was HC9 Ventures, a firm that continues to hold a stake in Forge Health. The capital raised in these rounds helped fuel the company’s expansion efforts, including the enhancement of its platform and its entry into new markets.
Forge Health’s ability to grow so quickly in such a competitive space speaks to the strength of its model, its dedicated leadership team, and its ability to deliver high-quality, integrated care that meets the diverse needs of patients. Virtual care for mental health continues to play a pivotal role in this success, allowing the company to expand its reach and provide more flexible options for those in need of behavioral health services.
Looking Ahead: A Bright Future for Behavioral Health Care
With the new investment from MFO Ventures, Forge Health is well-positioned to continue its rapid expansion and solidify its leadership role in the behavioral health space. The company’s dual focus on mental health and addiction treatment, coupled with its commitment to value-based care, allows it to provide more holistic and effective services to its growing patient base. The integration of virtual care for mental health and the expansion of outreach efforts will increase access to these services, particularly for individuals who may otherwise face barriers to in-person treatment.
Forge Health’s plans also include pursuing new payer partnerships to further enhance its ability to serve a broader range of patients. These partnerships are critical in ensuring that Forge Health can continue to provide its services under value-based care arrangements, which are becoming more common in the healthcare industry.
As the behavioral health sector continues to evolve, Forge Health’s focus on comprehensive, integrated care puts it at the forefront of the industry. By making mental health and addiction treatment more accessible, Forge Health is helping to reduce the stigma surrounding behavioral health issues and improve patient outcomes. The company’s commitment to innovation, patient-centered care, and expanding its reach ensures that Forge Health will continue to play a pivotal role in reshaping the landscape of behavioral health care in the years to come.
The collaboration with MFO Ventures is a critical milestone in Forge Health’s journey, and with this new backing, the company is poised to drive further advancements in how behavioral health is delivered, ensuring that more people across the U.S. can access the care they need to lead healthier, more fulfilling lives. The integration of virtual care for mental health in particular will serve as a cornerstone for reaching more individuals and improving overall mental health outcomes nationwide.
