CPE News (8/11/2021) – Green Shield Holdings Inc. has acquired Tranquility Online Inc. Financial terms were not disclosed.
Part of the Green Shield Canada (GSC) group of companies, Green Shield Holdings Inc. is the primary company used to house subsidiaries. Green Shield Holdings Inc. is itself a wholly-owned subsidiary of the Green Shield Benefits Association.
Founded by Joel Muise and Dr. Alissa Pencer, Halifax, Nova Scotia based Tranquility is an online platform that uses cognitive behavioural therapy (CBT) to help people with anxiety and depression. The platform uses digital coaching to improve client adherence and create better mental health outcomes.
Tranquility’s current leadership team will continue to operate the business under the Tranquility brand, with Muise remaining president. Tranquility will remain located in Halifax, Nova Scotia.
photo credit: Tranquility Online
News Release
Green Shield expands digital mental health impact with acquisition of Tranquility Online
TORONTO, Ontario, August 11, 2021 – In another step towards increasing digital access to mental health care, the Green Shield Canada (GSC) group of companies is pleased to announce its acquisition of Tranquility Online (Tranquility), a rapidly growing mental health platform specializing in internet-based cognitive behavioural therapy (iCBT) and mental health coaching.
Tranquility, based in Halifax, Nova Scotia, is a trusted partner to individuals, employers and public sector organizations, with a focus on ensuring those living with anxiety, depression and other related mental health conditions receive access to timely, affordable cognitive behavioural therapy and mental health coaching – in a digital, stigma-free setting.
“The impact of the pandemic, combined with the prospect of an uncertain future, has understandably taken a major toll on many Canadians,” explains Joe Blomeley, EVP, Mental Health at Green Shield. “In response, we continue to make it a top priority to identify innovative, clinically-validated companies like Tranquility, who can help us remove barriers to mental health care.”
The acquisition, made through Green Shield Holdings Inc. – a member of the GSC group of companies – highlights GSC’s growing leadership role in the digital mental health marketplace, expanding upon the acquisition of Inkblot Therapy (digital therapy and employee assistance plans) and investment in MindBeacon (iCBT), as well as investments and/or partnerships with other digital health providers like Maple (telemedicine), PocketPills (digital pharmacy) and GenXys (pharmacogenetics). It also speaks to GSC’s vision of developing, through key partnerships, one of Canada’s top digital health ecosystems via its recently launched Digital Clinic.
“In partnership, GSC, Inkblot and Tranquility will play a key role in knocking down barriers and providing a much-needed alternative for patients struggling to navigate the mental health system, enduring long wait-times or facing expensive treatment options,” Blomeley adds.
The Inkblot and Tranquility teams will begin working on integrated solutions in the months ahead – with a focus on building a full-service digital mental health offering for all Canadians. More details will follow later this year. GSC will also continue its strong partnership with MindBeacon, offering their services to clients and partners.
“Tranquility is thrilled to be joining the GSC group of companies,” says Joel Muise, Tranquility’s co-founder and President. “With a shared vision on social impact and the future of digital mental health care, we look forward to collaborating on critical support for patients whenever and wherever they need it. This acquisition is also a major victory for the Halifax technology ecosystem – one that was not possible without our local investors, clients, partners and stakeholders.”
Tranquility’s current leadership team will continue to operate the business under the Tranquility brand, with Muise remaining president. Tranquility will remain located in Halifax, Nova Scotia.
For more information:
GSC Media Department
1.800.268.6613 ext. 3409
media@greenshield.ca
About Green Shield Holdings Inc.
Part of the Green Shield Canada (GSC) group of companies, Green Shield Holdings Inc. is the primary company used to house subsidiaries. Green Shield Holdings Inc. is itself a wholly-owned subsidiary of the Green Shield Benefits Association.
About Green Shield Canada (GSC)
GSC is Canada’s fourth-largest health and dental benefits provider, and is uniquely structured as a social enterprise with the purpose of making it easier for people to live their healthiest lives. From coast-to-coast, GSC’s service delivery includes drug, dental, extended health care, vision, hospital and travel benefits for groups and individuals, as well as administration and benefits management services. Supported by outcomes-based sustainability strategies, advanced technology and exceptional customer service, GSC creates innovative programs for nearly four million plan participants nationwide.
About Tranquility Online
Founded in 2017 in Halifax, Nova Scotia by Joel Muise, a former chartered financial analyst, and Dr. Alissa Pencer, a Clinical Psychologist and Senior Instructor with Dalhousie University, Tranquility is an online platform that uses cognitive behavioural therapy (CBT) to help people with anxiety and depression. The platform uses digital coaching to improve client adherence and create better mental health outcomes. Muise’s own experience with anxiety led him to create Tranquility – with the objective of reducing wait times and improving access to care for all Canadians. Tranquility is a graduate of Volta, the Halifax-based innovation hub, and proud to be working with Dalhousie University and the University of New Brunswick on a research project funded by the Canadian Institute for Health Research.