CEO Oren Frank of TalkSpace an online therapy service provider, recently announced that the company will be bringing in a chief medical officer to assist in further improving the service of TalkSpace. CEO Oren Frank hired Neil Leibowitz, the former United Health chief medical director. This addition to the company comes in the wake of widespread speculation that TalkSpace is prepping up for an IPO or Initial Public Offering in the near future and of course anything that improves the company only adds value to potential investors seeking to be apart of one of the fastest startup companies in years. In fact, CEO Oren Frank speaking on CNBC stated that the company recently hit their one-millionth member this past year and that they are now generating tens of millions of dollars. Follow Oren Frank on Twitter for updates.
The addition of Neil Leibowitz to the team by Oren Frank was essentially for two reasons. One is that the addition of a chief medical officer now allows Talkspace physicians to prescribe medicines to their users via video chat. Of course, TalkSpace will have to follow strict federal and state laws when it comes to medical advice and prescriptions. The second reason is to kick-start an initiative to offer employers their TalkSpace service. As a former insurance executive, Neil Leibowitz brings a plethora of experience to the table in regards to negotiations and suggestions. Oren Frank states that he hopes that in the near future half of the revenue coming in will be due to this method. Oren Frank strongly believes that this next move will be a success due to employers taking mental health more seriously.
Although Neil Leibowitz said that he was initially skeptical about coming on board, the more he spoke with the TalkSpace team and all the great things they were working on, he quickly became a believer in the service and opted in to assist in any way possible.
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