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Headspace's resilience brand and Ginger's clinical heft create mental health powerhouse
Bambi Francisco Roizen sits down with Russ Glass, CEO of newly-formed Headspace Health, the combination of Ginger, a provider of on-demand coaching, therapy and psychiatry for people struggling with their mental health, and Headspace, a popular meditation app. The new company is valued at $3 billion and is estimated to have a combined booking of $300 million by end of this year.
--The new Headspace Health will have a combined 800 employees and will be headquartered in Santa Monica
--With the combination, Ginger has shown it's priority is prevention and resilience. About 90% of Ginger users are sub-clinical already and Headspace Health will only expand that population.
--The company will have 2900 customers, mostly self-insured employers. Ginger brings 700 corporate customers while Headspace brings 2200.
-- There are about 200 companies that use both Headspace and Ginger, so there will be ample opportunity to upsell.
-- Ginger's adoption inside corporations is about 12% whereas Headspace adoption is 25-40%. Engagement is about three months on Ginger. Headspace is longer, and some engage with Headspace 25 times a month.
-- Both Ginger and Headspace charge per employee, per month. Headspace being a much lower price point.
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