O’Melveny Advises Ripple Health Group in Acquisition by Calm2월 03, 2022
FOR IMMEDIATE RELEASE
SILICON VALLEY—February 3, 2022—O’Melveny represented healthcare innovator Ripple Health Group in its acquisition by Calm, the world’s leading mental wellness brand.
The transaction was announced on February 2.
Upon close of the acquisition, the Ripple Health Group team will join Calm, and Ripple Health Group CEO David Ko will take on the role of Calm co-CEO.
Ripple Health Group builds and invests in simple, innovative solutions that address all dimensions of health. The company’s first products are focused on aging in society and alleviating the burden of caregiving.
Calm supports users in more than 190 countries with the #1 app for sleep, meditation, and relaxation. With the addition of Ripple Health Group, Calm is announcing Calm Health, designed to support mental health across the care spectrum. Calm Health will replace Calm’s existing employer offering – Calm for Business – which has more than 2,000 partners, and covers more than 20 million lives.
The O’Melveny team advising Ripple Health Group was led by partner and Silicon Valley Office Head Paul Sieben, counsel Viq Shariff, and associates Amit Itai and Kate Camp.
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Ripple Health Group issued the following press release:
Calm Acquires Ripple Health Group and introduces Calm Health
David Ko Joins as Co-CEO
SAN FRANCISCO (February 2, 2022) – Calm today announced that it has acquired Ripple Health Group, a health technology company, to accelerate the brand’s mental healthcare ambitions. David Ko, Ripple Health Group CEO, will take on the role of Calm co-CEO, alongside Michael Acton Smith upon close of the acquisition. Calm co-founder Alex Tew moves from co-CEO to Executive Chairman.
“David's business acumen, operational excellence and proven record scaling healthcare companies will be invaluable for Calm as we enter into new ventures and shape the future of the category,” said Calm co-CEO, co-founder Michael Acton Smith.
New data from the World Health Organization (WHO) shows one in four people will be affected by mental health problems at some point in their lives. With the addition of Ripple Health Group, Calm is announcing Calm Health, designed to support mental health across the care spectrum. Calm Health will replace Calm’s existing employer offering – Calm for Business – which has more than 2,000 partners, and covers more than 20 million lives. Calm Health is coming soon and will span content, community and coaching to drive outcomes across the full spectrum of mental healthcare.
“As advisor to Calm since 2019, I’ve witnessed firsthand the team’s ability to pioneer the future of mental health, redefining both the category and the distribution channel,” said Calm co-CEO David Ko. “Calm is on a mission to make the world happier and healthier. I can’t think of a better fit for Ripple’s team and technology. We’re incredibly honored to join the company. I’m excited to work alongside Michael to bring Calm to healthcare.”
The Ripple Health Group team will join Calm upon close of the acquisition. The team will be focused on building out a suite of Calm Health solutions that integrate seamlessly into current healthcare technology and standards of care, while being simple and secure for consumers to use. Ripple will continue to build products like, Care MemoTM and LikePaperⓇ to reduce the burden of caregiving for professional and non-professional caregivers. LionTree advised Calm on this acquisition.
Calm is one of Fast Company’s Most Innovative Companies and became the first mental health unicorn in early 2019. Calm is a complete mental wellness experience, with content to support your mindfulness journey. From original sleep, meditation and music audio content to interactive features such as mood check ins and gentle movement, Calm has content to meet members at every moment.
Calm is the leading mental wellness brand with the #1 app for sleep, meditation and relaxation, designed to help you manage stress, sleep better and live a happier, healthier life. With hundreds of hours of original audio content available in seven languages, Calm supports users in more than 190 countries.
Apple’s 2017 iPhone App of the Year and one of Fast Company’s Most Innovative Companies of 2020, Calm boasts over 100 million downloads to date, averaging 100,000 new users daily. For more information, please visit us at www.calm.com.
ABOUT RIPPLE HEALTH GROUP
Ripple Health Group (RHG) builds and invests in simple, innovative solutions that address all dimensions of health for all humankind. Called one of the single most pressing global health problems, the company’s first products are focused on aging in society and alleviating the burden of caregiving. By building products that are designed for humans and built for healthcare, the company hopes to find the most impactful way to bring physical, mental, and social help to everyone. Ripple’s first two products, Care MemoTM and LikePaperⓇ focus on identifying and closing gaps in care while reducing the burden of caregiving. To learn more, visit www.ripplehealthgroup.com.
Calm | firstname.lastname@example.org
Ripple Health Group | email@example.com