Universal Health Services, Inc. filed a current report on August 17, 2026, disclosing the completed acquisition of Talkspace, Inc. and a $400 million borrowing under a delayed draw term loan facility to help finance the transaction.

Key Highlights

  • Merger closed August 17, 2026: Talkspace became an indirect, wholly-owned subsidiary of Universal Health Services as of the closing date.
  • Per-share cash consideration: Each share of Talkspace common stock (par value $0.0001) converted into the right to receive $5.25 in cash, without interest.
  • $400 million term loan drawn: The company borrowed $400 million under a delayed draw term loan facility established under its existing Credit Agreement.
  • Additional revolving borrowings: Additional funds were borrowed under the revolving credit facility under the same Credit Agreement to finance the acquisition.
  • Equity award treatment: Vested stock options and restricted stock units were cancelled, and unvested awards were converted into equivalent equity awards in respect of the company's Class B Common Stock.
  • Merger structure: UHS Merger Subsidiary, Inc., an indirect wholly-owned subsidiary of the company, merged with and into Talkspace, with Talkspace surviving the merger.

Universal Health Services Completes Talkspace Merger and Discloses Financing Terms

According to the filing, Universal Health Services, Inc. (NYSE:UHS) completed its acquisition of Talkspace, Inc., a Delaware corporation, on August 17, 2026. The transaction was structured as a merger in which UHS Merger Subsidiary, Inc., an indirect wholly-owned subsidiary of Universal Health Services, merged with and into Talkspace, with Talkspace surviving as the surviving corporation. The Merger Agreement was originally dated March 9, 2026.

The filing discloses that each share of Talkspace common stock, other than shares canceled pursuant to the Merger Agreement, was automatically converted into the right to receive $5.25 in cash, without interest. Holders of vested stock options and restricted stock units under Talkspace's equity incentive plans became entitled to transaction proceeds upon cancellation of those awards. Unvested stock options and restricted stock units were converted into equivalent equity awards in respect of Class B Common Stock, par value $0.01 per share, of Universal Health Services, according to the filing.

To finance the purchase price, the company reported borrowing $400 million under a delayed draw term loan facility established under its Credit Agreement, originally dated November 15, 2010, and amended and restated at various times from March 2011 to July 2026, with JPMorgan Chase Bank, N.A. serving as administrative agent. The company also drew additional funds under the revolving credit facility under the same Credit Agreement. The filing states that both borrowings "constitute direct financial obligations of the Company" and were reported under Item 2.03. The filing notes that the material terms of the Credit Agreement were previously reported in the company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, and are incorporated by reference.

What Was Disclosed

Universal Health Services disclosed the August 17, 2026 closing of its acquisition of Talkspace at $5.25 per share in cash, the $400 million delayed draw term loan borrowing, additional revolving credit draws, and the treatment of Talkspace equity awards in the merger.