Massachusetts-based Groups Recover Together is an evidence-based opioid addiction treatment platform that provides medication-assisted treatments, such as Suboxone (buprenorphine) to reduce cravings, and weekly group therapy sessions led by a licensed counselor for people at different stages of recovery.
Founded in 2014, the company fully transitioned into a telepsychiatry platform in April 2020 during the Covid-19 pandemic and plans to continue offering virtual services in addition to its brick-and-mortar network of clinics. The company claims to have a 74% member retention rate after 6 months. Additionally, the company relies on reimbursement from its health plan partners such as Aetna, Anthem, Optum, and Humana rather than operating a fee-for-service business model. In 2020, Groups Recover Together experienced a 45% YoY increase in members across the US to 8,000.
In May 2021, the company raised USD 60 million in Series C funding that will be used to expand the company’s geographical footprint from 12 states to at least 17 states by the end of 2021. The funds will also be used to build out its virtual care platform and bolster its digital offerings.
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