Universal Health Services (UHS) has entered into a definitive agreement to acquire Talkspace, Inc. for $5.25 per share. The enterprise value for the transaction is approximately $835 million, which UHS intends to finance with borrowings pursuant to its existing revolving credit facility.
Talkspace is a telebehavioral healthcare company. Its signature psychotherapy and psychiatry product connects users with a network of thousands of licensed mental health providers through an easy-to-use and HIPAA-compliant web and mobile platform.
Headquartered in King of Prussia, Pennsylvania, UHS has approximately 101,500 employees. Though its subsidiaries, it operates 29 acute care hospitals, 346 inpatient behavioral health facilities, 168 outpatient facilities and ambulatory care access points, an insurance offering, a physician network and various related services. The company operates out of 40 states, Washington, D.C., Puerto Rico and the United Kingdom.
UHS’ financial advisor is J.P. Morgan Securities LLC and its legal counsels are McDermott Will & Schulte and Stevens & Lee. Talkspace’s financial advisor is Wells Fargo Securities, LLC and its legal counsel is Cravath, Swaine & Moore LLP.
The transaction was unanimously approved by the respective Boards of Directors of UHS and Talkspace. The transaction, which is expected to close during the third quarter of 2026, is subject to approval by Talkspace’s stockholders, satisfaction of regulatory approvals and other customary closing conditions.
According to data captured in the LevinPro HC database, this represents the 50th eHealth transaction of 2026, and the ninth in the telehealth specialty. The telehealth specialty makes up 18% of all eHealth deals announced since January 1, 2026. There were 52 telehealth deals reported in 2025, and 43 reported in 2024.
