Calm, the relaxation app, announced Wednesday that it has acquired the Ripple Health Group, in a move that sees the two services hope to grow and give more people access to mental health help.
Calm is an app that helps with sleep and meditation with a focus on reducing stress and anxiety, while Ripple Health Group is a health tech company that helps connect people with care appropriate health. With this decision, Ripple CEO David Ko will now share the title with Michael Acton Smith, the co-founder of Calm.
An important and exciting update from our co-founder @tewy https://t.co/HuzPEtEB6n
— Calm (@calm) February 2, 2022
“We were just thrilled when the conversations turned to what we could do together,” Smith told CNBC in an interview Tuesday.
“Could we bring these two amazing companies together, Calm and Ripple, to change the world, to bend the curve in healthcare and get closer to solving the global mental health crisis,” he added.
Calm currently costs $14.99 per month or $69.99 for the year. Users can also try the app for free with a 7-day free trial. Smith explained that with the acquisition, he would like to make the app more affordable for a wider audience with different pricing options.
“Expanding into Calm Health and the healthcare space will allow us to reach many, many more people and make the service available at different price points,” Smith said.
Ripple will continue to develop its internal “Care Memo” and “LikePaper” services that Ripple uses to help “health plans, provider systems, nursing/LTC facilities, and home care teams ease the administrative burden monitoring members and communicating with families,” according to Ripple’s website.
The value of the acquisition was not disclosed by either company.
Calm was last valued in December 2020 at $2 billion, according to CNBC.