TranQool acquired by employee health service provider HumanaCare

TranQool

TranQool, the Toronto-based platform built to remotely connect people to therapists, has been acquired by HumanaCare, a Markham-based employee health provider.

The transaction closed on May 8, and includes TranQool’s technology and brand. According to TranQool co-founder Saeed Zeinali, the platform will allow HumanaCare members to chat and get video access to health care providers. “The growing need for online access to health services is a shift that is happening and you’re seeing HumanaCare and TranQool leading the way to providing solutions designed specifically for health care applications in the employee benefit arena,” he said.

Former CEO Chakameh Shafii called it a “win-win” for both the founding team and investors.
 

“TranQool gives us the opportunity to deliver care virtually, while providing a robust platform to expand access to our existing employee assistance programs, medical second opinion, disability support, caregiving/healthcare navigation and chronic disease management services,” said Jamie Marcellus, president of HumanaCare. “TranQool deepens our capabilities in a number of key areas, as well as provide an exceptional direct-to-consumer market entry-point.”

In October, TranQool sent an email to clients saying that the platform was shutting down services by October 31. Speaking with BetaKit, co-founder and former CEO Chakameh Shafii said that the company had shut down its consumer services and stopped taking new clients, but was testing out another model. Shafii declined to share details on that model.

“We wanted to respect our customers and employees and give everyone plenty of notice so that services aren’t disrupted,” said Shafii.

While the company wasn’t looking for a buyer, it was approached by HumanaCare for an acquisition, and Shafii called it a “win-win” for both the founding team and investors. “We’re happy to continue to serve Canadians,” said Shafii. “It doesn’t matter if it’s the founders providing that service or care, we’re happy our technology and brand continues to live on, and provide services.”

Jessica Galang

Jessica Galang

Jessica Galang is BetaKit's News Editor. Follow her on Twitter @jessicagalangg or send her pitches to jessica.galang@betakit.com.