King of Prussia, Pa.-based Universal Health Services is acquiring online behavioral health provider Talkspace in a deal valued at about $835 million.
Talkspace has a network of about 6,000 licensed behavioral health professionals serving all 50 states, Washington, D.C., and Puerto Rico, according to a March 9 UHS news release. As of Dec. 31, its services were available to more than 200 million people through their health insurance plans, employee assistance programs, or as a benefit through their employer, school or government agency.
In 2025, the online therapy company recorded $229 million in revenue and provided more than 1.6 million patient sessions, according to the release.
UHS President and CEO Marc Miller said the acquisition of Talkspace will allow the for-profit health system to expand access and offer “more flexible, stepped solutions to address the growing demand for behavioral healthcare.”
“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,” Mr. Miller said in the release.
Talkspace CEO Jon Cohen, MD, said the transaction reflects the “next logical step in expanding access to affordable, high-quality mental healthcare by integrating outpatient virtual care into a modern behavioral health ecosystem.”
The deal is subject to approval by Talkspace shareholders, regulatory approvals and other customary closing conditions, according to the release. The transaction is expected to close in the third quarter of 2026.
