Ontrak Health (NASDAQ: OTRK), a leading AI-powered and tech-enabled behavioral healthcare company, today announced a continuing expansion of its strategic partnership with Sentara Health in the Commonwealth of Virginia.

This new expansion offers Ontrak’s WholeHealth+ program to eligible self-insured groups and follows on the heels of the commercial expansion announced on February 29 with Sentara Health Plans, the health plan division of Sentara.

Together, these two expansions initially represent more than 6.5 times increase in the number of Sentara Health Plans members eligible for the Ontrak WholeHealth+ program with further opportunity to grow as more self-insured groups are brought on board. Outreach has already begun for these new eligible populations. Ontrak Health and Sentara Health Plans are also jointly working to launch Ontrak’s innovative Advanced Engagement System more broadly across Sentara Health Plan’s commercial population.

Mary Lou Osborne, President and Chief Commercial Officer of Ontrak Health, stated, “This new development solidifies the trust that Sentara has placed in Ontrak Health, in offering Ontrak’s WholeHealth+ program to eligible Commercial self-insured populations. This is a testament to the strong partnership developed between Sentara and Ontrak over our 5 years of working together. I’m thrilled about future opportunities with additional populations to leverage Ontrak’s unique capabilities to serve members in need of behavioral health support.”

About Ontrak, Inc.

Ontrak, Inc. is a leading AI and telehealth-enabled healthcare company, whose mission is to help improve the health and save the lives of as many people as possible. Ontrak identifies, engages, activates, and provides care pathways to treatment for the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. We engage individuals with anxiety, depression, substance use disorder and chronic disease through 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 integrated intervention platform uses AI, predictive analytics and digital interfaces combined with dozens of care coach engagements to deliver improved member health, better healthcare system utilization, and durable outcomes and savings to healthcare payors.

About Sentara Health

Sentara Health, an integrated, not-for-profit health care delivery system, celebrates more than 130 years in pursuit of its mission - "we improve health every day." Sentara is one of the largest health systems in the U.S. Mid-Atlantic and Southeast, and among the top 20 largest not-for-profit integrated health systems in the country, with 30,000 employees, 12 hospitals in Virginia and Northeastern North Carolina, and the Sentara Health Plans division which serves more than 1 million members in Virginia and Florida. Sentara is recognized nationally for clinical quality and safety, and is strategically focused on innovation and creating an extraordinary health care experience for our patients and members. Sentara was named to IBM Watson Health's "Top 15 Health Systems" (2021, 2018), and was recognized by Forbes as a "Best Employer for New Grads" (2022), "Best Employer for Veterans" (2022, 2023), and "Best Employer for Women" (2020).

Forward-Looking Statements

This press release contains “forward-looking” statements that are based on the Company’s beliefs and assumptions and on information currently available to the Company on the date of this press release and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, the expectations around timing and size of launch of the current and future expansions. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control, which may cause actual results to differ materially from stated expectations. These risk factors include, among others, dependence on key personnel and the ability to recruit, retain and develop a large and diverse workforce; high customer concentration and the ability of our customers to terminate our contracts for convenience; intense competition and substantial regulation in the health care industry; changes in regulations or issuance of new regulations or interpretations; limited operating history; our inability to execute our business plan; increase our revenue and achieve profitability; lower than anticipated eligible members under our contracts; the adequacy of our existing cash resources and anticipated capital commitments to enable us to continue as a going concern; our ability to raise additional capital when needed; lack of outcomes and statistically significant formal research studies; difficulty enrolling new members and maintaining existing members in our programs; the risk that the treatment programs might not be effective; difficulty in developing, exploiting and protecting proprietary technologies; general economic conditions, nationally and globally, and their effect on the market for our services, competitive pressures and trends in our industry and our ability to successfully compete with our competitors, and changes in laws, regulations, or policies. For a further list and description of the risks and uncertainties we face, please refer to our most recent Securities and Exchange Commission filings which are available on its website at http://www.sec.gov. Such forward-looking statements are current only as of the date they are made and based on information available to us on the date hereof, and we assume 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

Company Contact: Brandon LaVerne Chief Executive Officer and Chief Operating Officer blaverne@ontrakhealth.com

Investor Relations: Ryan Halsted Gilmartin Group investors@ontrakhealth.com

Sentara Contact: news@sentara.com

Ontrak (NASDAQ:OTRK)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Ontrak Charts.
Ontrak (NASDAQ:OTRK)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Ontrak Charts.