Rula Health
About Rula Health
Company overview
Rula Health is a telehealth company that develops a therapy platform specializing in behavioral health services, connecting patients with licensed therapists and psychiatric providers through a digital platform. Founded in 2019, the company is headquartered in Los Angeles, California, and was co-founded by Joshua Bruno and Gabriel Diop. Initially launched as Path Mental Health, it rebranded to Rula Health in February 2024 to reflect its expanded focus on comprehensive mental healthcare. Rula Health aims to improve access to high-quality, affordable mental health services by leveraging a nationwide network of providers and accepting most major insurance plans, serving patients, providers, and payers to enhance mental health outcomes. Business/Product Breakdown Rula Health operates a teletherapy platform that facilitates virtual mental health services, including individual therapy for ages 5 and up, couples therapy, family therapy, and psychiatric services such as medication management. The platform allows patients to input preferences?suchlike specialty, gender, or cultural background?and matches them with in-network, licensed providers who are accepting new patients, often scheduling appointments within 48 hours. Rula supports over 120 million covered lives through partnerships with major insurance networks, including Aetna, Anthem, Cigna, Kaiser, United Healthcare, and Blue Cross Blue Shield plans. For providers, Rula offers administrative support, handling marketing, credentialing, billing, and scheduling, enabling therapists to focus on clinical care while operating as independent contractors. The company's services are available in all 50 states and Washington, D.C. for therapy, and in 31 states for psychiatry as of 2024. Rula emphasizes evidence-based, outcome-driven care, using measurement-informed practices to improve clinical outcomes, and has facilitated millions of therapy hours since its inception.
Keywords
Revenue
EBITDA
Valuation
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenues | $380 MM | $250 MM | $90 MM | $120 MM | $65 MM |
| Gross Profit | $190 MM | $125 MM | $45 MM | $60 MM | $32.50 MM |
| Net Income (Loss) | $43 MM | $25 MM | $9 MM | $12 MM | $6.50 MM |
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total Assets | $850 MM | $720 MM | $680 MM | $650 MM | $600 MM |
| Total Liabilities | $450 MM | $400 MM | $380 MM | $350 MM | $320 MM |
| Total Equity | $400 MM | $320 MM | $300 MM | $300 MM | $280 MM |
Ratios
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
Deal Amount
$120M
Target Company Valuation
$1.20 MM
Techniques
Acquisition of Assets, Taken Private
Stake Tags
100%
Is PE deal
Yes
Is deal PE backed
Yes
Total Acquired
100%
Secondary Transaction2023-09-01Canceled
Investor Sponsors -- | Stake Tags Majority |
Deal Amount Undisclosed | Is PE deal No |
Target Company Valuation -- | Is deal PE backed Yes |
Techniques Secondary Sale, Management Buy-out (MBO) | Total Acquired 65% |
Investor Sponsors
--
Deal Amount
Undisclosed
Target Company Valuation
NaN
Techniques
Secondary Sale, Management Buy-out (MBO)
Stake Tags
Majority
Is PE deal
No
Is deal PE backed
Yes
Total Acquired
65%
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