Universal Health Services said on Monday it will acquire virtual healthcare provider Talkspace in a deal worth about $835 million, as demand for behavioral health services continues to grow.
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Universal Health Services will pay $5.25 per share for Talkspace, representing a 10.29% premium over the stock’s previous closing price. Shares of Talkspace rose more than 7%, while shares of Universal Health Services fell about 5% in early trading.
Here are some details:
- Talkspace provides virtual mental health services through a network of about 6,000 licensed professionals across all 50 U.S. states, Washington, D.C., and Puerto Rico.
- Jason Cassorla of Guggenheim Partners said Talkspace should help Universal Health Services attract more behavioral health patients, easing investor concerns about the company’s growth prospects.
- Cassorla added that successfully integrating the Talkspace business and increasing patient volumes, supported by strong industry demand, would be a positive development.
- Universal Health Services said Talkspace’s services were available to more than 200 million people by the end of 2025 through health plans, employee assistance programs, and other benefit arrangements.
- Talkspace generated about $229 million in revenue in 2025.
- Universal Health Services said the acquisition would help expand access to outpatient and virtual mental health care.
- The deal has been approved by the boards of both companies and is expected to close in the third quarter.
About Talkspace
Talkspace is a public virtual behavioral healthcare company founded in 2012. It provides online access to licensed therapists and psychiatric providers through a secure and HIPAA-compliant platform. The company offers different types of mental health services, including individual therapy, couples counseling, and therapy for teenagers. These services are available through messaging, video calls, and audio sessions, allowing people to receive support from anywhere. Talkspace works with insurance providers and employer health plans, helping make its services available to more than 55 million people. The platform has a network of over 5,000 licensed clinicians, including therapists and psychiatric providers who specialize in treating more than 150 mental health conditions and therapy approaches.
