Talkspace, an online video chat therapy service that has caught the attention of millions of Americans going through hard times has announced that CEO Oren Frank has brought in the chief medical director of UnitedHealth to attempt to expand the company into the wholesaling of their service to employers. The hiring of Neil Leibowitz is seen as a strategic move by Oren Frank and the company as they are rumored to be setting up for an IPO or initial public offering of the company. View Oren Frank’s profile on linkedin
Talkspace, which offers an incredibly affordable alternative to face to face sessions recently hit their 1 million user. CEO Oren Frank commented to the media that the company is now in a position where they have a steady stream of revenue coming in every year. The introduction of the Chief Medical Director Neil Leibowitz also allows Talkspace therapist to prescribe medicine over their chats. According to federal and state laws, these prescriptions will only be allowed to happen when both parties are in contact via video chat and not through instant message. Oren Frank was asked if the company would ban certain medicine such as the highly addictive opiates, Oren stated that at this moment they are not banning anything.
Leibowitz, who was formerly an insurance executive will also be assigned to work on the corporate side of the company. The plan is to have Leibowitz speak on behalf of the company to employers across the country on the very real danger of mental health and the negatives side effects it can cause for a companies revenue. Oren Frank is positive that this move will generate above half of the companies future earnings. In addition to Leibowitz coming on board, Oren Frank also has mentioned on his Twitter account that Olympic Gold Medalist Michael Phelps will join the team as a media advocate for the service due in part to his own struggles with mental illness.