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Oxford Finance Closes $105 Million Debt Facility with Headspace

July 28, 2023, 07:57 AM
Filed Under: Healthcare

Oxford Finance closed a $105 million senior debt facility with Headspace, a pioneering digital healthcare company.

Proceeds from the transaction will be used to further support the expansion of Headspace's innovative mental health platform. Additionally, the investment will enable the Company to be opportunistic in investing in areas where it sees market need.

"We are thrilled to partner with Headspace, a company at the forefront of revolutionizing care for mental health,” said Rohit Gandhi, senior director at Oxford. “Its commitment to leveraging technology to scale mindfulness and mental health support aligns perfectly with Oxford’s mission of supporting innovative and impactful businesses working to improve healthcare."

"We’re excited to partner with Oxford and grateful for their confidence in our vision,” said Russell Glass, chief executive officer of Headspace. “This financing puts us in a strong position to expand our enterprise EAP offering and accelerate our ability to bring our mental healthcare services to more health plans and directly to consumers in the coming year."

Built by the pioneers in bringing meditation, mindfulness and mental health coaching, therapy and psychiatry to the digital world, Headspace has decades of proven expertise in helping millions of people around the world achieve greater health and happiness. From large airlines and consulting firms to media companies and healthcare organizations, over 4,000 employers across 200 countries look to Headspace to support the mental health and wellbeing of their employees. The Company also works with an ecosystem of health plans and partners, ranging from small regional plans, to large plans like Cigna, as well as organizations like Accolade, Virgin Pulse and Sequoia. Through its flagship direct-to-consumer app, Headspace uses evidence-based tools to help people stress less, sleep soundly, develop healthy habits, and feel better.

Armentum Partners served as financial advisor to Headspace on the transaction.

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