PTSD treatment startup Stella acquires Field Trip's US assets to scale, takes over clinic operations
28 Jun 2023
Acquisition
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Source: FierceHealthcare
Stella, a behavioral health provider specializing in post-traumatic stress disorder (PTSD) treatment, has acquired the U.S. assets of Field Trip Health, a psychedelic therapy provider.
The strategic addition will broaden Stella’s range of advanced treatments. The company will assume operations of Field Trip clinics in New York and Washington, D.C., and plans to open a new treatment center in Southern California. Earlier this year, Field Trip closed several centers across multiple states in an effort to reduce expenses and preserve capital.
As part of the acquisition, Field Trip’s founder and president Mujeeb Jafferi will join Stella as president and clinics operation officer, while Field Trip’s chief technology officer Amardeep Manhas will join Stella in the same role. Assets acquired include Field Trip’s advanced outcome data, research, tech stack, clinics and leadership.
Stella offers what is known as Dual Sympathetic Reset (DSR) protocol, which consists of anesthetic injections meant to reset the nervous system and alleviate PTSD symptoms, as well as ketamine therapy, including a protocol aimed at special operations forces who are at high risk of brain injury.
“Ketamine protocols are among the most important breakthroughs for mental health and we're excited to integrate our years of clinical research and patient outcomes with Stella’s DSR protocol and psychotherapy," Jafferi said in a press release. "By joining forces, we’re unlocking new potential for treating neurological damage caused by trauma to heal the brain—bringing back hope and saving lives. This is the future of mental health care."
Founded in 2020, Stella targets mental health and the physical injury caused by mental trauma with biological and psychological interventions. It administers treatment at more than 35 partner locations across the U.S. as well as in Israel and Australia. In May, Stella opened a flagship PTSD treatment, research and medical training center in Chicago and announced $7 million in raised capital.
“At Stella, we believe every patient deserves a tailored treatment plan in order to achieve the most impactful results. With the acquisition of Field Trip’s assets, we’re offering patients data-backed treatments that align with our industry-leading standards,” Philippe Sanchez, CEO of Stella, said in the announcement. “By combining our collective expertise, we’re excited to pioneer innovative therapies to shape the future of mental health treatment. Our shared vision for diversified treatment will drive us to empower individuals on their journey to healing and well-being.”
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