Spring Health, a global mental health benefits platform, has announced its agreement to acquire Alma, a digital platform designed to assist providers in optimizing their operations and collaborating with payers. Although the financial terms of the acquisition remain undisclosed, both companies emphasize the transaction’s potential to enhance the delivery of mental health care.
The collaboration is rooted in a shared vision of addressing the challenges of connecting patients with mental health resources while minimizing disruptions. Adam Chekroud, co-founder and President of Spring Health, explained that while both companies have attained significant scale in tackling different aspects of this challenge, their union is expected to accelerate impact by broadening access, cutting total costs of care, and bolstering the provider infrastructure throughout a patient’s mental health journey.
Together, Spring Health and Alma hold the capacity to serve approximately 170 million patients. Each firm will maintain its respective leadership, brand identity, and focus on its unique customer base, while collaborating and sharing technological resources. The existing payer relationships and contracts for both companies will remain intact.
Post-acquisition, the combined entity will be strategically positioned to aid patient care transitions, effectively facilitating movement between employer-sponsored and health-plan sponsored services. Chekroud highlighted that this acquisition will help align long-term incentives, deepen investments in shared infrastructure, and promote scalability without disrupting existing customer experiences or clinician workflows.
Alma’s structure, which supports clinicians as independent practice owners, will continue unchanged by the acquisition. Chekroud assured that “Alma will continue operating as a distinct brand,” and affirmed that membership conditions for clinicians would not alter following the deal. Moreover, the goal is to foster innovation and provide better tools for providers, thereby enhancing opportunities for practice growth.
Through this acquisition, Spring Health aims to leverage AI-enhanced tools that will bolster personalized patient care while lightening the administrative load on providers. Currently, there are no immediate plans to modify operational processes, services, or pricing structures for either Spring Health or Alma.
The acquisition is expected to be finalized in the second quarter of 2026. Both organizations have experienced significant financial backing recently; Alma raised $130 million in a Series D funding round in 2022, summing up to over $220 million in total venture funding. Concurrently, Spring Health recently secured $100 million in its Series E funding round in 2024, bringing its overall funding to $466.5 million. Additionally, PitchBook has identified Spring Health as a promising candidate for an initial public offering in 2026.
This acquisition reflects a hopeful step forward for mental health care, aiming to create more accessible and seamless experiences for patients navigating their mental health journeys.