Portland, Oregon (June 30, 2020) – Active Recovery TMS, a Portland-based clinic specializing in transcranial magnetic stimulation (TMS) to treat depression, is proud to announce that they have successfully completed a $2 million private placement round from 3x5 Partners, a growth-oriented life sciences and natural resources venture capital firm headquartered in Portland. The funds will support further expansion of clinics across the Portland metro area, the Willamette Valley, and the greater Pacific Northwest region.
According to a recent Kaiser Family Foundation poll, nearly half of all Americans feel the current pandemic is affecting their mental health. The crisis has exacerbated mental health issues, and the burden will be felt for months and years to come. With this new investment, Active Recovery TMS can improve geographical reach and access to this valuable treatment option during COVID-19 and beyond, particularly to patients who have not responded to antidepressants or talk therapy in the past — as TMS can reduce symptoms of depression or bring depression under control with minimal side effects.
“Our company ethos is to ‘invest in what the world needs.’ Active Recovery TMS is a natural fit – providing critical mental health services in a time when the need couldn’t be greater,” shared Tony Arnerich, Managing Director of 3x5 Partners. “Relationships have been the key to our success. We’ve been fortunate to work with Dave and Matt on the Active Recovery leadership team on previous projects and are impressed by what has been accomplished in such a short period of time. We’re thrilled to work together again under a shared vision to improve patient outcomes for those suffering from depression.”
“As we plan for future expansion, including a fourth new clinic opening in Salem this August, we do so knowing this investment will help us further our mission of bringing TMS treatment to communities all over our region, “ said Dave Grano, CEO and Managing Member of Active Recovery TMS. “We’re excited to have a proven partner on board that provides us not only expansion capital, but who is also as passionate about our life-changing therapy as we are.”
Active Recovery TMS, which provides TMS treatment exclusively, has grown significantly since its inception in 2017. Last year the clinic augmented its staff of four with eight new hires, and due to the demand for the clinic’s services, the practice will add 12 new hires and four clinics by the end of 2020.
About Active Recovery TMS
Active Recovery TMS seeks to provide a safe and effective alternative treatment for depression with transcranial magnetic stimulation, a compelling option for those who have not had success with standard depression treatments like medication and/or psychotherapy. Co-founded by Dr. Jonathan Horey to fill a void of TMS clinics in the Portland area and to introduce patients to this ground-breaking approach, Active Recovery TMS has been treating patients since January 2017. TMS is an FDA-cleared procedure that uses a highly focused, pulsed magnetic field (similar to an MRI) to target the regions of the brain involved in regulating mood with short 20-minute treatments. It is covered by almost all insurance plans, including Medicare and Medicaid, enabling more patients to get the help and support they need in managing their mental wellbeing. More information can be found at activerecoverytms.com.
About 3x5 Partners
3x5 Partners is a growth-oriented venture capital firm dedicated to investing in solutions addressing our global health and climate crisis. We partner with and invest in passionate entrepreneurs pioneering innovative and impactful solutions in the life science and natural resource sectors. Founded in 2011, the 3x5 team has a track record of delivering proven returns for its investors and a reputation of being a patient and trusted partner. The firm has offices in Portland, OR and Minneapolis, MN.