From WisPolitics.com/WisBusiness.com …
— WPS today announced it has acquired California-based Mavida Health, which has an online therapy and psychiatry platform tailored for women.
The Madison company said the move represents “a significant step” in expanding its digital health offerings thanks to Mavida Health’s mental health expertise. WPS President and CEO Wendy Perkins says the acquisition will help the company expand its impact and better meet rising demand for these services.
“This acquisition reflects both our strategic vision for growth and our commitment to making a meaningful difference in people’s lives,” Perkins said in a statement.
Mavida Health was founded in 2023 by reproductive psychiatrist Dr. Sarah Oreck and co-founder Emma Sugerman to support women through various life transitions, including conception and pregnancy, postpartum challenges, pregnancy loss, as well as other conditions including menopause perimenopause.
Oreck notes mental health for women is “inextricably tied” to their hormones but that connection has been dismissed or ignored. In a statement on the acquisition, she notes women face “distinct neurobiological challenges” at different stages of life.
“These are serious, hormone-driven mental health conditions that demand specialized care. Mavida Health was founded to provide exactly that,” she said. “Joining WPS gives us the scale to reach more women and families, especially every woman who has ever been told her symptoms were normal when they weren’t.”
The company currently offers individual, group and couples therapy along with medical management, providing virtual care in California, New York, New Jersey and Texas. WPS says it will “work toward expanding” Mavida’s license into Wisconsin and weigh new offerings for its members.
Following the acquisition, Mavida will keep operating as an independent brand with a separate leadership team, helmed by current WPS Chief Growth Officer Rochelle Myers.
Financial terms of the acquisition were not disclosed.
See the release below.
— Packaging and label manufacturer Belmark Inc. has begun work on a $15 million family center, which will offer childcare, medical care and other services when it opens next year.
WEDC yesterday announced the company has broken ground on the project in De Pere, part of a $121 million capital project that’s getting up to $2.5 million in tax credits from the state agency.
Belmark is the first company in the state to qualify for business development tax credits for investing in childcare since the program was expanded in 2023 to include it, according to the Wisconsin Economic Development Corp.
When the new facility opens in 2027, it will provide medical services including mental health care, physical therapy, dietician access and fitness resources. WEDC says the medical and wellness facility will be free for all employees and dependents insured through the company.
The $5.1 million, 14,000-square-foot childcare facility portion of the project will have some slots reserved for children of the company’s employees, while others will be open to the public.
The overarching project, which includes various equipment upgrades, is expected to create 143 new full-time jobs. WEDC says elements of the effort will also drive skill development and training for new and existing employees of the manufacturer.
See more project details in the release below.
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