Rethink First enlists Evercore for sale

  • Serves education, employer, behavioral health markets
  • Rethink raised >$12 mln through 4 rounds
  • IVP invested in Rethink peer, CentralReach, this year

Rethink First, whose best-practice software and tools support the various stakeholders involved in caring for those with developmental disabilities, is exploring a sale, according to four sources.

The New York healthcare IT company, formerly Rethink Autism, has engaged Evercore for financial advice, three of the sources said.

Sources placed the company’s revenue from $18 million to $30 million.

Rethink provides online clinical tools to support assessment, treatment planning, video-based training, practice management services, as well as customizable data collection and progress reporting.

The company serves a diverse customer base through three divisions: Rethink Behavioral, Rethink Benefits and Rethink Ed.

Clients include public and private behavioral health providers, public school systems, managed-care organizations, government agencies including the U.S. Department of Defense, employers and families.

Rethink tools are tailored to support individuals with developmental disabilities, such as autism, down syndrome, and speech-and-language problems.

Rethink was founded in 2007 by CEO Daniel Etra and President and COO Eran Rosenthal. Both are former executives of R.E.R. International, a supplier of printed materials to the retail industry.

Rethink since its inception has raised about $12.4 million in funding over four financing rounds, according to Crunchbase.

Its latest funding was an August 2014 Series C round led by Arboretum Ventures and other investors including Beringea.

Two sources noted that a piece of Rethink competes with CentralReach, a practice management and electronic health record company serving clinics focused on applied behavioral analysis and speech therapy.

Insight Venture Partners in February invested in CentralReach.

An Evercore representative declined comment, while those with Rethink couldn’t immediately be reached.

Action Item: Reach out to Rethink at +1 877-988-8871