Funds to advance cognitive behavioral therapy for workers compensation
St. Petersburg, November 19, 2020 – IMCS Group (IMCS), a leading behavioral telehealth provider in workers’ compensation treatment and recovery, today announced follow-on participation in IMCS’ recent Series A1 from the Hartford Investment Management Company (HIMCO), a subsidiary of The Hartford.
The company plans to use these funds to expand its evidence-based behavioral therapy programs, which allow workers to return to work more quickly and have more positive treatment outcomes. IMCS’ approach also mitigates the liability of workers compensation cases for employers.
“We see significant value in the cognitive behavioral therapy services that IMCS Group provides because they are not only helping employees return to work quickly and safely, they are also keeping employees healthy and productive,” said Jill Frankle, Vice President, HIMCO. “We look forward to supporting the future growth of IMCS and its services that have become even more important during the pandemic.”
IMCS Group, CEO, Lori Daugherty, added: “We thank HIMCO for its support of our mission to become the leader in workers’ compensation recovery. This funding adds onto the $8M investment made in July by HLM Venture Partners, .406 Ventures and Centripetal Capital Partners. This capital will accelerate our efforts to attract the best talent, enhance our technology platform, and scale our already proven methodologies in cognitive behavioral therapy.”
“We are very excited to have HIMCO join the IMCS team. As a leading workers’ compensation insurer, The Hartford will provide IMCS with key industry insights and innovative thinking. We look forward to supporting their mission to underwrite human achievement,” said Liam Donohue, Founding Partner, .406 Ventures.
“Behavioral health has long been a part of our investment strategy and the IMCS team is second-to-none,” said Vin Fabiani, Partner, HLM Venture Partners and IMCS Group board member. “We are excited about the opportunity ahead as many states are now classifying stress and post-traumatic stress disorder (PTSD) as stand-alone workers’ compensation disabilities, especially among first responders and frontline workers, many of whom are on the frontlines battling the COVID-19 pandemic.”
HIMCO’s funding follows on to a previously announced $8M investment made in July, 2020 by HLM Venture Partners, .406 Ventures and Centripetal Capital Partners.
About IMCS Group
IMCS – Integrated Medical Case Solutions – is the premier behavioral therapy network for pain and trauma response with evidence-based outcomes and a proven track record for transforming workers’ compensation cases. IMCS makes intervention efficient with a national network of 1,400+ psychologists, psychiatrists and licensed clinical social workers in all 50 states.
Rachel Ford Hutman
Ford Hutman Media