Universal Health Services, Inc. (UHS) announced Monday that it has entered into a definitive agreement to acquire Talkspace, Inc. (TALK), a virtual behavioral healthcare company, for $5.25 per share. The enterprise value for the deal is around $835 million.
In the pre-market activity, Talkspace shares were gaining around 7.6 percent, trading at $5.1200, while UHS shares were down around 1.6 percent, at $189.50.
UHS said the transaction is expected to be slightly accretive to its adjusted net income per share during the first twelve months post-closing and increasingly accretive thereafter.
The agreement, which was unanimously approved by the Boards of Directors of both companies, is expected to close during the third quarter of 2026. The deal is subject to approval by Talkspace's stockholders, satisfaction of regulatory approvals and other customary closing conditions.
UHS said it intends to finance with borrowings pursuant to its existing revolving credit facility.
Talkspace, a virtual behavioral healthcare company, has a network of around 6,000 licensed professionals that serve 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. The firm generated $229 million in revenue and provided more than 1.6 million therapy and psychiatry sessions in 2025.
Marc Miller, President and CEO of UHS, said, "This acquisition aligns with UHS' core growth objectives by accelerating our outpatient and telehealth behavioral health strategies, diversifying our payor mix and delivering a comprehensive, technology-enabled continuum of care that supports innovative approaches to mental health services."
In the deal, UHS' financial advisor is J.P. Morgan Securities LLC, while Talkspace's financial advisor is Wells Fargo Securities, LLC.
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