Universal Health Services Inc. has agreed to acquire virtual behavioral health provider Talkspace Inc. in a transaction valued at about $835 million, expanding the hospital operator’s push into outpatient and telehealth mental health services.

Under the terms of the agreement, the King of Prussia, Pennsylvania-based UHS will purchase Talkspace for $5.25 per share. The company said it plans to fund the deal using borrowings under its existing revolving credit facility. The boards of directors of both companies have approved the transaction, which is expected to close in the third quarter of 2026, pending Talkspace shareholder approval and regulatory clearance.

The New York-based Talkspace operates a digital behavioral health platform that connects patients with licensed clinicians through messaging and video. The company works with roughly 6,000 licensed mental health professionals and provides services across all 50 states, Washington, D.C., and Puerto Rico.
According to company data, Talkspace’s services were available to more than 200 million people as of December 31, 2025 through health plans, employee assistance programs, employers, schools, and government agencies. The company 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 CEO of UHS, said the acquisition is intended to strengthen the company’s behavioral health strategy by expanding access to virtual care and supporting outpatient services. “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 healthcare,” Miller said.

Talkspace CEO Jon R. Cohen, M.D., described the deal as a step toward integrating virtual care more broadly into behavioral health delivery. “This 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,” he said.

UHS said the acquisition is expected to be slightly accretive to adjusted earnings per share within the first year after closing, excluding one-time transaction costs. The company also indicated the deal could broaden its access to commercially insured populations while expanding virtual behavioral health offerings.

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