TimelyCare raises $2.7M shortly after acquiring Alongside
What's the deal? BrainsWayDealroom has a profile for this one. Try Dealroom → (Nasdaq: BWAY), the Massachusetts-based maker of deep transcranial magnetic stimulation (TMS) devices, has invested $1.5M in Hopemark HealthDealroom has a profile for this one. Try Dealroom →, a Chicago-area integrated mental health provider with six locations. Hopemark offers psychiatric care, telehealth, deep TMS, ketamine, and Spravato treatment.
Separately, AmpaDealroom has a profile for this one. Try Dealroom → — the company behind a portable, FDA-cleared TMS device — secured an oversubscribed financing round that brought its total raise to $25M. TimelyCare, a Texas-based virtual mental health provider, raised $2.7M shortly after acquiring AI coaching platform Alongside. And EarliPoint Health, which builds autism diagnosis technology for children, pulled in $3.5M in late-stage venture debt.
Why now? Demand for TMS treatment is surging. BrainsWay reported 35% year-over-year revenue growth in its latest quarterly earnings, driven partly by rising TMS popularity. Payers like EvernorthDealroom has a profile for this one. Try Dealroom → and Cigna have even dropped prior authorisation requirements for TMS care — a significant tailwind for the sector.
This isn't BrainsWay's first provider investment. In 2025, it put $3.3M into Axis Integrated Mental Health in northern Colorado. The Hopemark deal continues a strategy to "partner with growth-oriented clinical platforms" and expand TMS access, chief executive officer Hadar Levy said.
What could go wrong? The TMS market is getting more competitive. Ampa's portable device, which received FDA clearance in February 2025, costs $3,000 per month and fits in a car boot — a sharp contrast to BrainsWay's 340-pound system. Portable alternatives that work outside clinic walls could erode traditional TMS manufacturers' market position over time.
For TimelyCare, the $2.7M raise is modest. The company's recent acquisition of Alongside adds AI-powered coaching and student safety tools, but integration risks remain. Terms of that deal were not disclosed.
The signal: BrainsWay's back-to-back provider investments — $3.3M into Axis in 2025 and now $1.5M into Hopemark — mark a deliberate shift by a corporate investor moving downstream from device manufacturing into care delivery. Meanwhile, both Hopemark and Ampa sit at the early growth stage, suggesting the TMS value chain is still nascent enough for strategic capital to shape how and where treatment is accessed.
Read more: Behavioral Health Business
