Universal Health Services closes $835M Talkspace acquisition
Talkspace will retain its brand, structure and broader strategic direction while operating as a wholly owned subsidiary of the brick-and-mortar acute and behavioral care provider. Executives said they expect both businesses to benefit from bidirectional patient referrals.
Universal Health Services (UHS) has finalized its $835 million acquisition of virtual behavioral care provider Talkspace, positioning the company as a wholly-owned subsidiary of the $17.4 billion healthcare operator. The acquisition, which was valued at $5.25 per share, will allow both entities to bidirectionally refer patients across the full continuum of behavioral care, from emergency visits to outpatient services.
Talkspace CEO Jon Cohen highlighted that the merger could help address bottlenecks in UHS' behavioral facilities and bring in more patients through Talkspace's extensive network. The deal is projected to be accretive to UHS' adjusted net income in the first year, with further growth expected as the two companies integrate their care delivery platforms.
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