Fenwick, O'Melveny guide Calm’s purchase of health tech company Ripple

U.S. one dollar banknotes are seen in this illustration taken February 8, 2021. REUTERS/Dado Ruvic
  • Calm said it's buying Ripple Health to expand mental health focus
  • Fenwick counsels Calm; O'Melveny represents Ripple Health

(Reuters) - Fenwick & West is advising Calm on its acquisition of health care technology company Ripple Health Group, which is advised by O'Melveny & Myers, as the sleep and meditation app expands its focus on mental health.

Calm said on Wednesday that it scooped up Ripple Health as the COVID-19 pandemic has increased demand for online mental health and mental wellness services. Both companies are based in San Francisco.

The co-head of Fenwick's digital health practice, Michael Esquivel, and corporate partner Lara Foster, are advising longtime client Calm, the California-headquartered firm said in a Thursday statement.

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The duo also worked on a Series C financing round for Calm that valued the company at $2 billion, according to a December 2020 firm statement. The firm previously said it worked on Calm’s 2019 Series B and 2018 Series A funding rounds.

The head of O’Melveny & Myers' Silicon Valley office, Paul Sieben, and counsel Viq Shariff represent Ripple Health. The firm said in a statement that it has worked for the company since its inception, including on its financing transactions.

Ripple Health creates apps that help caregivers communicate with health care providers and keep track of information like visit summaries and medication changes.

Calm competitor Headspace said in August that it was merging with virtual therapy services provider Ginger.

Latham & Watkins counseled Headspace on that deal.

Read more:

Telehealth apps see post-COVID focus on mental wellbeing

Latham preps Headspace's $3 bln merger with mental health app Ginger

Q&A: Fenwick N.Y. partner discusses the outpost's growth and reopening plans

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Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes.