people familiar with the matter via Bloomberg Tech. The startup is valued at approximately $1 billion—if sold to another virtual care player, it could mirror the Teladoc-Livongo megamerger, marking further consolidation of the digital health space.
Talkspace mulls a possible sale as telehealth firms aim to stay competitive amid the virtual care boom.Talkspace's potential sale gives credence to our prediction that M&A activity will boil up as telehealth firms aim to stay competitive amid the virtual care boom—and telemental health will be a particularly active segment:
The pandemic incited an unprecedented wave of telemental health use, and this demand likely won't fade as the pandemic exacerbates the mental health crisis. Sixty-two percent of consumers said they'd prefer a virtual visit for their mental health—even after it's safe to book an in-office appointment, Amwell data.
Telemental health firms have been joining forces to pre-empt competition in a booming market. US mental health startups raised a record-breaking in the first three quarters of 2020, already outpacing the total $1.06 billion invested in 2019, per PitchBook.
Both Teladoc-Livongo and Amwell offer behavioral health services, but Talkspace's wide footprint could act as a boon to their telemental health units: Amwell has a network of
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