Ontrak Secures Financing Commitment to Fuel Growth and Innovation
Ontrak, Inc. (NASDAQ:OTRK), a leading value-based behavioral healthcare company powered by proprietary AI and engagement technology, announced it has secured a $10 million financing commitment from Acuitas Capital, LLC. This financing commitment will support Ontrak's continued growth and innovation in delivering comprehensive behavioral healthcare solutions and is structured to provide Ontrak with the necessary capital to expand its customer base while continuing to drive further advancements in its AI and digital capabilities. The commitment contemplates that Ontrak may raise additional financing from third parties to further support its growth initiatives.
Brandon LaVerne, Chief Executive Officer of Ontrak, Inc., expressed enthusiasm about the new financing commitment: "We appreciate the continued support of Acuitas Capital as we advance our mission to transform healthcare. This financing commitment will allow us to accelerate our growth initiatives, enhance our technology platform, and deliver even greater value to our customers and stakeholders."
The full text of the agreement with Acuitas Capital, LLC, will be an exhibit to a Current Report on Form 8-K the Company will file with the Securities and Exchange Commission today and is available on the SEC's website or through Ontrak Health's investor relations page.
About Ontrak, Inc.
Ontrak Health (NASDAQ:OTRK) is a leading value-based behavioral healthcare company powered by proprietary AI and engagement technology, whose mission is to help improve the health and save the lives of as many people as possible. Ontrak uniquely identifies, engages, and delivers care to the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. Through our Advanced Engagement System, we achieve higher engagement rates with individuals with anxiety, depression, substance use disorder and chronic disease by delivering personalized care coaching and customized care pathways that help them receive the treatment and advocacy they need, despite the socio-economic, medical and health system barriers that exacerbate the severity of their comorbid illnesses. The company's whole-person approach integrates AI, predictive analytics, comprehensive clinical and claims data, patient-generated information, and digital interfaces with care coach engagements to deliver improved member health, better healthcare system utilization, and durable outcomes and savings to healthcare payors.
Forward looking statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the Company's ability to access the financing provided by the financing commitment and the potential benefits to the Company of such financing, including that it will support the Company's continued growth and innovation, allow the Company to expand its customer base, accelerate its growth initiatives, enhance its technology platform, and deliver greater value to its customers and stakeholders. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including, without limitation, risks and uncertainties related to the Company's ability to satisfy the conditions to obtaining the financing under the financing commitment, the Company's ability to use the proceeds from the financing to successfully execute its business strategy, and the risks and uncertainties described in the Company's most recent Securities and Exchange Commission filings, including its annual report on Form 10-K for the year ended December 31, 2024, which are available at http://www.sec.gov. The forward-looking statements in this press release are based upon the Company's current expectations and involve assumptions that may never materialize or may prove to be incorrect. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Learn more at www.ontrakhealth.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250520992971/en/
Company Contact:
Brandon LaVerne
Chief Executive Officer
[email protected]
Investor Relations:
Ryan Halsted
Gilmartin Group
[email protected]