HE HELPED BUILD A $2BN DIGITAL HEALTH BUSINESS — NOW RAJ MALIK IS JOINING PSYOMICS FOR ITS NEXT GROWTH ACT

Digital mental health company Psyomics has recruited US healthcare veteran Raj Malik to its Board as it expands in the UK, prepares to launch biomarker technology and considers international growth. His track record includes helping Rally Health grow to $2 billion in revenue before its acquisition by Optum.

Psyomics has appointed a healthcare executive with experience of scaling a digital health company to $2 billion in revenue as the UK business prepares for what it hopes will be its next phase of commercial growth.

Raj Malik has joined the company’s Board, bringing more than 30 years of experience spanning digital health, technology, law and business leadership.

His appointment is particularly significant because Psyomics is attempting to navigate a transition familiar to many health technology businesses: moving from developing a promising product towards demonstrating clinical and commercial value at scale.

Malik has travelled that road before.

He helped grow Rally Health from launch to $2 billion in revenue before its acquisition by Optum, according to Psyomics, and has been involved in businesses subsequently sold to Optum, Google and General Atlantic.

For Psyomics CEO Dr Melinda Rees, that experience is precisely the point.

“Raj has taken a digital health company from an early stage to $2 billion in ARR and to an exit and that is the exact trajectory we’re building toward,” Rees said. “Now we have someone in the room who can work with our team who’s actually done that.”

FROM DIGITAL ASSESSMENT TO BIOMARKERS

Psyomics is developing technology combining digital mental health assessment with biomarker capabilities, with the aim of supporting clinical decision-making and helping patients access appropriate care.

The company is currently concentrating on expanding its UK customer base and demonstrating the clinical and operational impact of its platform.

Its next development could prove particularly important.

Psyomics says it is preparing to launch its biomarker technology, which Malik identifies as a differentiating element of the company’s proposition.

“Psyomics stood out because it has an incredibly talented mission oriented team that developed a biomarker capability that truly sets it apart from other digital mental health platforms I have evaluated,” Malik said.

“I’m looking forward to using my experience to help the team scale its work, demonstrate meaningful outcomes and ultimately improve more patients’ lives.”

The claims surrounding differentiation will ultimately be tested by clinical adoption, outcomes and commercial performance as the technology is deployed.

A BOARD APPOINTMENT WITH US AMBITIONS

Malik’s role will extend beyond product development.

He will work alongside Rees, Psyomics’ Senior Leadership Team and fellow Board members on commercial growth, investor engagement and international expansion.

The US represents a particularly significant potential market.

Malik brings experience across both the UK and US, as well as Europe, Brazil, Africa, India and Canada.

“He understands how to scale technology businesses, build strong teams and grow sustainably, and brings valuable experience of both the UK and US markets,” Rees said.

“His appointment strengthens the Board at an important point in our development and will help us make the most of the opportunities ahead.”

FROM ANTITRUST LAW TO DIGITAL HEALTH

Malik’s career also gives Psyomics experience beyond conventional healthcare management.

He began in law as an Assistant Attorney General before becoming an antitrust attorney at White & Case.

That regulatory background could be relevant for a company operating around healthcare systems, where commercial expansion can depend not only on product performance but also on regulation, procurement and the ability to navigate complex institutional buyers.

Malik subsequently moved into business leadership, serving as CEO and in other senior roles while participating in capital raises, acquisitions and company exits.

He is also a National Association of Corporate Directors Certified Director and has been inducted into the Dealmakers Hall of Fame.

CAN PSYOMICS MAKE THE LEAP?

The appointment comes as digital mental health companies face a fundamental commercial challenge.

Building technology is one thing. Demonstrating measurable clinical outcomes, securing healthcare customers and scaling internationally is another.

Psyomics believes combining digital assessment with biomarker technology can strengthen its position.

Malik said the scale of the mental health challenge also gives the role personal significance.

“The mental health crisis is one of the biggest challenges we face globally, and it is also something that throughout my career I’ve seen up close with colleagues, friends and family,” he said.

Psyomics’ immediate priority remains growth in the UK while building evidence around the clinical and operational impact of its technology. But that domestic expansion is increasingly being accompanied by plans for international markets, particularly the US.

Rees sees Malik’s decision to join as significant.

“Raj’s decision to join Psyomics is a strong endorsement of what the team has built,” she said.

“His strategic insight, commercial experience and understanding of the US healthcare and investment landscape will be invaluable as we move into our next phase.”

The appointment does not guarantee that Psyomics will replicate Malik’s previous $2 billion growth story.

But it does make the company’s ambition considerably clearer: Psyomics is recruiting people who have already experienced the scale it ultimately wants to reach.