Genoa acquires telepsychiatry company 1DocWay

TUKWILA, Wash. — QoL Healthcare company Genoa, a behavioral health specialty pharmacy, on Wednesday announced that it had acquired IDocWay, an outpatient telepsychiatry company whose platform connects providers to patients. Genoa said that the acquisition was part of its strategy to improve patient care at the community mental health centers it partners with amid a shortage of psychiatry providers. The acquisition marks the launch of Genoa Telepsychiatry. 

 

“When our partners suggested that we help them find novel remedies to their shortage of psychiatrists, we set out to find ways to assist,” Genoa’s EVP strategy and corporate development said. “We believe telepsychiatry can be a key answer as its early adopters have touted its acceptance and efficacy in delivering accessible and quality mental health care. The shortage of psychiatrists is a major issue in the behavioral health industry, and the addition of 1DocWay’s team and tools will help us provide a solution to this challenge.”

 

For Genoa, the acquisition will help it serve communities that lack a large number of healthcare professionals. 

 

“We chose 1DocWay because they are experts in the field of telepsychiatry, having built the nation’s largest outpatient telepsychiatry network, and they are innovators in technology,” Genoa CEO John Figueroa said. We are confident this integration will allow both us and our center partners to better serve the behavioral health community.”