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Nimbus Synergies Expanding Evidence-Based Treatment for Alcohol Use Disorder through Follow-on Investment in Alavida Health

August 27th, 2018 |

Vancouver, British Columbia, August 22, 2018 – Nimbus Synergies, investor, partner, and mentor to British Columbia’s leading digital health companies, today announced its second investment in Alavida Health to support the treatment of alcohol use disorder through its continued growth and market expansion.

 Alavida Health provides a personalized and evidence-based treatment for those suffering from alcohol addiction. Alavida’s treatment combines non-addictive medication, behavioural therapy, and technology to help individuals reduce or eliminate their consumption of alcohol. As an alternative to more traditional but less successful approaches to treatment, this leading program has helped hundreds of people struggling with alcohol. Upon completion of the program, over 87% of clients increased their feeling of control over alcohol and 82% increased their ability to stop drinking once they started.

“Alcohol misuse and addiction is crippling and has profound ramifications for the loved ones, family, friends, and colleagues of those afflicted. Alcohol misuse costs the United States more than $250 billion annually and yet less than 10% of those addicted receive treatment. Privacy and stigma concerns are oft cited reasons for not seeking treatment and Alavida’s technology platform addresses these issues. In addition, its approach leverages best practices in addiction treatment from the scientific and clinical communities to help virtually anyone, anywhere, reduce their alcohol consumption with industry leading success rates,” explains Jason Robertson, Vice President of Investments for Nimbus Synergies Inc. “As a testament to its significant impact and momentum, Alavida was selected as both a Top 15 Canadian Scale-up Company by Metabridge in 2018 and participant in C100’s 48Hrs in the Valley.”

“We are honored to be recognized as one of Canada’s fastest growing and most promising tech companies, alongside other rising stars,” says Elliot Stone, CEO of Alavida Health. “And we are also thrilled that Nimbus recognizes our accomplishments and continues to support our progress and mission given its recognized leadership in digital health investments.”

Since launching in Vancouver in 2016, Alavida has expanded throughout North America to include clients in British Columbia, Ontario, Alberta, Saskatchewan, California, and most recently Manitoba. In addition to expanding geographically, Alavida also has grown its offering to serve progressive organizations looking to improve the health and safety of their employees.

ABOUT ALAVIDA HEALTH

Alavida is the leading online healthcare solution for problem drinking. Alavida combines medication and therapy with the latest technology to personalize treatment and allow clients to privately access their care team from anywhere. Clients set their own goals and see life-changing results: 87.5% reported feeling more in control of their drinking and 82.5% significantly improved their ability to stop drinking. Available in North America since 2016, Alavida currently has offices in Canada and the USA. More information about Alavida and how treatment works can be found at try.alavida.co/press/

ABOUT NIMBUS SYNERGIES

Nimbus Synergies leads early-stage financings in innovative and complementary digital health companies in British Columbia. By bringing these companies together to share resources, industry specific knowledge, and relationships, Nimbus is accelerating their growth and increasing their likelihood of success. Nimbus is significantly impacting the burgeoning yet underserved digital health sector through its leadership as investor, partner, and mentor. It is one of the most exciting additions to the province’s technology industry and the newest member of Discovery Parks’ group of companies. By investing Discovery Parks’ assets in startups focused on the intersection between life sciences and technology, Nimbus aims to improve health through BC-led innovation. For more information, please visit www.discoveryparks.com/nimbus-synergies.

ABOUT DISCOVERY PARKS

Since 1979, Discovery Parks has been on a mission to see technology become the most productive, economically important and socially relevant industry in British Columbia. Through its unique for-profit model, originally specializing in commercial real estate and now focusing on investment, all of the profits gained by Discovery Parks go directly back into the tech industry — via educating entrepreneurs, mentoring businesses and investing in technologies here in BC. Discovery Parks has provided homes to over 250 companies, housed in 16 buildings, developed in 8 locations while also transferring over $21 million dollars back into BC’s Innovation Community. For more information, please visit www.discoveryparks.com.