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LifeSpeak Acquires Canadian Behavioral Therapy Solutions Firm ALAViDA for USD 12m
Friday 15 October 2021

Canada-based mental health and total wellbeing education platform LifeSpeak Inc. has acquired Canadian SaaS ALAViDA Health Ltd., a virtual SaaS-based provider of cognitive-behavioral therapy health solutions for substance use disorders to boost behavioral health platform offerings, the company said.

LifeSpeak acquired ALAViDA for total consideration of USD 12m, comprised of a USD 7m cash payment and the potential for up to a USD 5m earnout, payable upon reaching predetermined 2022 financial performance milestones.

In addition to utilising the net proceeds from its USD 125m initial public offering to augment its portfolio, LifeSpeak has committed further resources to content development, platform enhancements, and global market expansion.

LifeSpeak's acquisition of ALAViDA deepens its behavioral health capabilities and will further bolster its existing SaaS platform offerings to better serve its diverse global client base.

The company believes that the acquisition of ALAViDA will enhance growth through significant cross-sell opportunities of ALAViDA's industry-leading technology platform to LifeSpeak's existing customer base and by introducing LifeSpeak's platform for mental health and wellbeing education to ALAViDA's customer base.

ALAViDA is a comprehensive SaaS-based alcohol and drug use treatment solution designed for employers that brings the key components lacking in the traditional rehab model together.

The ALAViDA technology platform delivers on-demand substance use support through the privacy of an individual's smartphone and self-guided resources available anytime, anywhere.

The acquisitions of LIFT and ALAViDA expand the content offerings already available on the LifeSpeak platform.

LifeSpeak, LIFT, and ALAViDA share SaaS-based business models that empower global expansion opportunities while serving employers and their employees directly and through integrated partnerships with health plans, employee associations, third-party administrators, and insurance carriers.
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Date Published: 15/10/2021

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