UPPER MERION — Universal Health Services Inc. has entered into a definitive agreement to acquire Talkspace Inc. for $5.25 per share. Under the terms of the agreement, the Montgomery County-based United Health Services, a provider of hospital and health care services, will acquire Talkspace for $835 million.
Talkspace is a leading virtual behavioral health care company with a network of approximately 6,000 licensed professionals that serves all 50 states, Washington, D.C., and Puerto Rico.
The transaction has been approved by both the boards of directors of both companies and is expected to close during the third quarter of this year, following approval by Talkspace’s stockholders, satisfaction of regulatory approvals and other customary closing conditions, the company said in a release.
“Talkspace’s patient-centric, clinically driven virtual platform perfectly complements the high-quality services delivered at our facilities, enabling us to expand access and offer more flexible, stepped solutions to address the growing demand for behavioral health care,” Marc D. Miller, president and CEO of UHS, said in a statement.
He added that the acquisition aligns with UHS’ core growth objectives by accelerating outpatient and telehealth behavioral health strategies, diversifying its payor mix and delivering a comprehensive, technology-enabled continuum of care that supports innovative approaches to mental health services.
When the acquisition is completed, Talkspace’s providers and virtual behavioral health platform will support the creation of the industry’s first nationally scaled, end-to-end continuum in behavioral health care, UHS said in the release.
“These new capabilities deliver a patient-centered virtual offering that facilitates seamless transitions across care settings and improves access for payors and consumers alike,” the release stated.
As of Dec. 31, Talkspace’s services were available to more than 200 million individuals through their health insurance plans, employee assistance programs, or as a benefit through their employer, school or government agency. Talkspace generated $229 million in revenue and provided more than 1.6 million therapy and psychiatry sessions in 2025.
“Over the past several years, Talkspace has transformed from a direct-to-consumer pioneer into a scaled, insurance-covered behavioral health care platform trusted by patients, providers, payors and employers,” Dr. Jon R. Cohen, CEO of Talkspace, said in a statement. “This transaction reflects the next logical step in expanding access to affordable, high-quality mental health care by integrating outpatient virtual care into a modern behavioral health ecosystem.”
Montgomery County-based Universal Health Services Inc. has announced it will acquire virtual behavioral health company Talkspace Inc. The transaction is expected to close in the third quarter of 2026. (DONNA ROVINS – MEDIANEWS GROUP PHOTO)
Headquartered in Upper Merion Township, Montgomery County, UHS had annual revenues of $17.4 billion in 2025. The company, and through its subsidiaries, has approximately 101,500 employees and operates 29 inpatient acute care facilities, 346 inpatient behavioral health facilities and 168 outpatient and other facilities and ambulatory care access points, as well as an insurance offering, a physician network and various related services.
Talkspace pioneered the ability to text with a licensed therapist from anywhere and now offers a comprehensive suite of mental health services, including therapy for individuals, teens and couples, as well as psychiatric treatment and medication management for patients over 18.