Amwell is in advanced discussions to acquire online therapy app Talkspace for roughly $200 million, according to Healthcare Dive.
The telemedicine company is in talks to pay $1.50 per share for Talkspace. That price would represent a 150% premium over Talkspace’s share price at Friday’s close.
The reported transaction reflects a sharp decline in Talkspace’s value since the therapy company went public last summer at a $1.4 billion valuation.
Online therapy company Talkspace offers counseling with a network of licensed therapists, selling services directly to consumers or through employer-sponsored health plans.
The New York-based firm went public through a merger with a special purpose acquisition company last year, but has struggled since then. Talkspace’s stock has fallen 93% since its initial listing at $8.90 when it entered the public markets in June 2021.
Talkspace and MindPath Health were reportedly in deal negotiations earlier this year, although the discussions collapsed in May. Read more.
