Sweden’s digital therapy scaleup Mindler has acquired ieso Digital Health UK, with financial terms not being disclosed to TFN. However, based on ieso UK’s latest reported revenue of around £10.7 million and current digital health acquisition multiples of 4.8-5.6x revenue, the deal likely valued the company at £15-25 million. The acquisition combines two well-established, clinically grounded platforms, creating what the companies describe as the UK’s most comprehensive digital mental health offering.
With demand for NHS mental health services continuing to rise by nearly 40% since before the pandemic, patients face long and growing waits for treatment. It is estimated that mental health patients often wait significantly longer than those needing physical health care. Meanwhile, NHS mental health services experience significant staffing shortages, further exacerbating the gap between demand and supply.
A shared mission rooted in clinical rigour
Mindler, founded in Stockholm in 2018, offers video-based digital therapy sessions and has delivered over 1.8 million therapy sessions across Europe.
In a conversation with TFN, Erica Larson, Group CEO at Mindler, says, “Our platform is available from early morning until late at night, seven days a week, breaking down barriers of geography, accessibility, and stigma. By combining structured self-help modules with virtual therapy sessions, we not only make care more accessible but also deliver measurable results. Over 70% of patients report significant improvement after treatment. In doing so, Mindler is reducing waiting lists, easing pressure on overstretched health systems, and ensuring people can access timely, high-quality support when they need it most.”
The company’s acquisition of ieso Digital Health UK brings in a platform that has provided more than 640,000 hours of online cognitive behavioural therapy (CBT) to over 145,000 NHS patients. Ieso holds contracts covering one third of England’s integrated care systems and a national contract in Scotland.
Larson adds, “ieso’s work in the UK has set a gold standard for scalable, evidence-based digital therapy. We are thrilled to bring their expertise, clinical insight, and NHS relationships into the Mindler group. Together, we will offer the most comprehensive digital mental health platform in the UK – one that supports patients throughout their care journey.”
Scaling mental health for the future
The combined platform will offer more options for patients, with access to both live video sessions and typed CBT therapy. This flexibility, alongside a focus on clinical quality and data security, aims to improve capacity management and reduce waiting times for mental health care throughout the NHS. Patient data will remain securely managed by ieso Digital Health UK under NHS standards, with continuity of service assured through the integration.
Larson tells TFN: “The acquisition of ieso is a game-changer for our technology stack and our service offering. Ieso brings a unique, evidence-based modality to our portfolio: typed therapy. This text-based approach allows us to reach individuals who may prefer the asynchronous, discreet nature of written communication over video. By integrating this new form of care, we are creating a genuinely multi-modal platform. A patient can begin with a primary care video consultation and, if clinically appropriate, transition to typed therapy, or specialised video support, all within our ecosystem.”
Dr Charlotte Housden, Managing Director of ieso UK, will remain in her role to manage the transition and scaling of services under the Mindler brand. She emphasised that the partnership allows the company to expand its impact and meet growing patient needs without compromising quality.
Kent Tangen, CEO at ieso, says, “We’re proud to have supported thousands of lives through ieso’s UK telecare services. That legacy will always be a part of who we are. With those operations now in excellent hands at Mindler, ieso is committed to building the future we’ve long envisioned: delivering safe, effective AI-powered mental healthcare at scale. Our immediate focus is in the US, but our mission is global. As AI adoption accelerates, mental health is emerging as one of its most urgent and natural use cases. The market is moving fast, and so are we.”
With previous acquisitions in Finland and the UK, Mindler has made clear its strategy to grow through both organic scaling and strategic partnerships. Now, with ieso Digital Health UK under its umbrella, Mindler is aiming to set new standards for how mental health care is delivered: fast, flexible, reliable, and above all, accessible to those who need it most.