Universal Health Services to Acquire Talkspace in a $835 Million Deal

Universal Health Services, Inc. (UHS) entered a merger agreement on March 9, 2026, to acquire Talkspace, Inc. (TALK) in an all-cash deal valued at $835 million.

Deal Structure:

Universal Health Services will acquire Talkspace for $5.25 per share, representing a premium of 10.29% from the stock’s last close.

Company Profile:

Talkspace is a U.S.-based virtual behavioral healthcare company that provides online therapy and psychiatric services through a web and mobile platform. The company connects individuals with licensed therapists for mental health treatment via text, audio, video, and live virtual sessions.

Universal Health Services is a U.S.-based healthcare company that owns and operates acute care hospitals, behavioral health facilities, and outpatient care centers. The company provides a range of medical services, including hospital care, behavioral health treatment, and related healthcare management services through facilities in the U.S., the U.K., and Puerto Rico.

Deal Details and Timeline:

The deal is expected to close during the third quarter of 2026.

Universal Health Services intends to finance the deal through borrowings under its existing revolving credit facility.

Talkspace hired Wells Fargo Securities as its financial advisor and Cravath, Swaine & Moore as its legal advisor. Universal Health Services received financial advice from J.P. Morgan Securities and legal advice from McDermott Will & Schulte and Stevens & Lee.

Universal Health Services is paying 3.74 times Talkspace’s sales.

Deal Metrics:

To explore more specifics regarding this merger, please visit the Deal Metrics page:

Deal Metrics for the acquisition of Talkspace, Inc. (TALK) by Universal Health Services, Inc. (UHS)

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article