CIBC Innovation Banking invests in Norwest-backed Mindful

CIBC Innovation Banking has provided growth financing to Mindful Health Solutions, a San Francisco-based provider of mental health services geared towards treatment-resistant depression. No financial terms were disclosed. Mindful is backed by Norwest Venture Partners, a US growth equity and venture capital firm.

PRESS RELEASE

October 18, 2021

CIBC Innovation Banking is pleased to announce a new growth capital financing to California-based Mindful Health Solutions, a provider of mental health services geared towards treatment-resistant depression. The funding will enable the company to accelerate its growth by further expanding into new locations across the United States.

With over 15 clinic locations across California, Norwest Venture Partners-backed Mindful Health Solutions provides a service that is quintessential to the emotional well-being of patients and their families. The company was founded in 2007 by Dr. Richard Bermudes whose vision incorporates patient access to advanced treatments methods such as Transcranial Magnetic Stimulation (TMS) and Esketamine Nasal Spray while simultaneously educating the community about mental health. Its team of clinicians and staff have dedicated their lives to research, education, and treating those with mental health conditions and providing the most innovative, evidence-based treatments available.

“Mental health impacts 1 in 5 adults in the United States, and the pandemic has made mental health services such as those provided by Mindful Health Solutions more important than ever,” said Youssef Kabbani, Director in CIBC Innovation Banking’s Menlo Park office. “We are proud to support this company whose purpose is to broaden pathways to treating depression and to make it accessible to all those in need.”

With the latest announcement, Mindful Health Solutions will continue to provide innovative, patient-centric care with the focus of an academic research institution, while expanding its footprint into new regions and communities.

“We are excited to have CIBC’s support as this affords us the ability to expand into other parts of California and into other states,” said Ryan Jessop, Chief Financial Officer, Mindful Health Solutions. “Growth helps us deliver upon our mission of providing access to high-quality mental health care for those who are struggling with mental health conditions,” he added.

About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, London, Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada.