Startups

Annum Health, a startup offering alternative treatment for heavy drinking, will end operations

The New York City-based startup, which was founded in 2016 and recently announced a partnership with Cigna, will end operations and dissolve at the end of this month.

Sorry We are CLOSED sign on storefront

Annum Health, a digital health startup providing an alternative to rehab for heavy drinking, will end operations and dissolve at the end of this month, according to an email from co-founder and CEO Michael Laskoff.

“This is necessitated by an unforeseen change in our financial circumstance that ultimately could not be overcome,” Laskoff wrote.

The emailed message was later posted on Annum’s website as well.

When reached via email and asked for additional comment, Laskoff said he was not immediately available to talk.

New York City-based Annum Health offered an app that individuals could use over the course of one year. Through it, they got access to therapy, coaching, medication and support. Users could complete daily check-ins and activities in an effort to reach their goals and change their relationship to alcohol. In addition to working with a coach, therapist and physician, users could join a community group called the Annum Circle.

Laskoff, Lauren Wolfe (chief clinical officer) and Mark Willenbring (CMO) founded the startup in 2016. Laskoff previously founded AbleTo, a provider of tech-enabled behavioral health solutions.

Since its creation, Annum Health raised $6.4 million, according to Crunchbase. Its investors included .406 Ventures, Canaan Partners and AXA Venture Partners (which was previously known as AXA Strategic Ventures).

The company’s business model involved partnering with employers and health plans who wanted to help their workforce get healthier, according to a 2017 AlleyWatch interview with Laskoff. The employer would pay the cost of the individual’s treatment, but Annum safeguarded each person’s privacy so their boss and coworkers didn’t know about their participation in the program.

In November, Annum Health announced a partnership with Cigna, which was the first health service company to pilot Annum’s program with employer clients.

“Collectively, we are especially proud to have contributed to the growing dialogue amongst large employers and health plans seeking better ways to help employees and families to address this pervasive but largely overlooked issue,” reads the message on Annum’s site.

Photo: Warchi, Getty Images