Talkspace, Inc. (TALK)

Talkspace, Inc. is a virtual behavioral health company headquartered in New York City. The service was started in 2012 by Oren Frank and Roni Frank, and it built a platform that connects people with licensed therapists through web and mobile apps. Over time it expanded from direct-to-consumer subscriptions into insurance-covered care.

The company's model lets members message a therapist by text, voice and video at any time, in addition to scheduling live video sessions. Its offerings expanded to include psychotherapy for individuals, couples and teens, as well as psychiatry and medication management. The company said its network included roughly 6,000 licensed providers.

Talkspace sold access to its services through health plans, employers, government programs and consumer channels, with payor relationships becoming its largest area of growth. Payor-covered visits allowed members to use their insurance benefits, and the company said its services were reachable by people covered by plans reaching more than 200 million lives. It also operated partnerships with employers and with large organizations offering mental health benefits.

Talkspace became a public company in June 2021 when it completed a business combination with Hudson Executive Investment Corp., a special purpose acquisition company, and its common stock began trading on Nasdaq under the symbol TALK. Jon Cohen later led the company as chief executive officer. Like many digital health companies that went public in that period, it spent several years shifting toward profitability and a payor-focused strategy.

In 2026, Talkspace agreed to be acquired by Universal Health Services, Inc., one of the largest operators of behavioral health facilities in the United States, listed on the New York Stock Exchange under the symbol UHS. Talkspace stockholders voted to approve the transaction at a special meeting. Under the merger agreement, stockholders were to receive $5.25 per share in cash, a deal valued at approximately $871 million.

The merger closed on August 17, 2026, and Talkspace became an indirect wholly owned subsidiary of Universal Health Services. Following the closing, trading in Talkspace common stock was suspended, and the company notified Nasdaq to delist the shares and filed a Form 25 with the SEC. The prior directors of Talkspace resigned in connection with the closing.

As a result of the transaction, the stock ceased to be listed and Talkspace no longer files public reports as an independent company. The acquisition brought a large virtual care platform together with a company known for inpatient and outpatient behavioral health services.