KING OF PRUSSIA, PA — Universal Health Services Inc. (NYSE: UHS) said it has entered into a definitive agreement to acquire Talkspace Inc. (NASDAQ: TALK) for $5.25 per share in a transaction valued at approximately $835 million.
The company said it plans to finance the acquisition through borrowings under its existing revolving credit facility.
Talkspace provides virtual behavioral healthcare services through a network of about 6,000 licensed professionals serving all 50 states, Washington, D.C., and Puerto Rico.
As of December 31, 2025, Talkspace’s services were available to more than 200 million individuals through insurance plans, employee assistance programs, and other partnerships, according to the company.
Talkspace reported $229 million in revenue in 2025 and delivered more than 1.6 million therapy and psychiatry sessions during the year.
Marc D. Miller, president and chief executive officer of UHS, said the acquisition is intended to expand access to behavioral healthcare services.
“Talkspace’s patient-centric, clinically driven virtual platform … enables us to expand access and offer more flexible solutions to address the growing demand for behavioral healthcare,” Miller said.
Talkspace Chief Executive Officer Jon R. Cohen said the transaction reflects the company’s shift toward insurance-based services.
“This transaction reflects the next logical step in expanding access to affordable, high-quality mental healthcare by integrating outpatient virtual care,” Cohen said.
UHS said the acquisition is expected to be slightly accretive to adjusted net income per share in the first 12 months after closing, excluding one-time costs.
The companies said the transaction has been approved by both boards of directors and is expected to close in the third quarter of 2026, subject to shareholder approval, regulatory clearances, and other customary conditions.
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