Talkspace Awarded Sourcewell Cooperative Contract

The Contract Expands Government Procurement Channels for Youth Services and Virtual Behavioral Health Therapy

NEW YORK--(BUSINESS WIRE)--Talkspace, a leading provider of online behavioral health care, is proud to announce it was recently awarded a renewal of the Sourcewell cooperative purchasing contract in the Virtual Behavioral Health Therapy and Related Services category. This allows Talkspace to expand its offerings to cities, counties, school districts, and public agencies across North America in the youth mental health market.

Sourcewell, a self-funded governmental organization established in 1978, facilitates a cooperative purchasing program that harnesses the collective purchasing power of more than 50,000 participating agencies. By streamlining procurement with pre-negotiated, competitive contracts, Sourcewell enables government, educational, and nonprofit organizations to secure cost-effective and efficient purchasing solutions.

Talkspace secured the Sourcewell contract following a rigorous request for proposal (RFP) process, ensuring compliance with local procurement requirements, and delivering exceptional value and service. This partnership allows any public agency access to purchase from Talkspace through a ready-to-use, Sourcewell-vetted contract, streamlining the public purchasing process.

“This Sourcewell contract is a major step forward in our mission to expand mental healthcare access. It builds on our impactful Talkspace for Teens partnerships that have utilized the Sourcewell Contract, like Baltimore County Public Schools (BCPS), as well as other government agencies across the US focused on teen mental health. We are thrilled to continue working with Sourcewell to efficiently deliver virtual mental health solutions to more cities, and municipalities across North America,” said Natalie Cummins, Chief Business Officer at Talkspace.

Talkspace for Teens is Talkspace’s free mental health support program available to teenagers 13+. Through partnerships with cities, counties, school districts, and other public agencies, Talkspace for Teens has lowered the barrier of entry for teens to access mental health services and delivered tangible results, with 70% of students reporting improvement for conditions like anxiety and depression.

For more information, including how an agency can use Talkspace’s contract, visit https://www.sourcewell-mn.gov/cooperative-purchasing/072225-TKS.

About Talkspace

Talkspace (NASDAQ: TALK) is a leading virtual behavioral healthcare provider committed to helping people lead healthier, happier lives through access to high-quality mental healthcare. At Talkspace, we believe that mental healthcare is core to overall health and should be available to everyone.

Talkspace pioneered the ability to text with a licensed therapist from anywhere and now offers a comprehensive suite of mental health services, including therapy for individuals, teens, and couples, as well as psychiatric treatment and medication management (18+). With Talkspace’s core therapy offerings, members are matched with one of thousands of licensed therapists within days and can engage in live video, audio, or chat sessions, and/or unlimited asynchronous text messaging sessions.

All care offered at Talkspace is delivered through an easy-to-use, fully-encrypted web and mobile platform that meets HIPAA, federal, and state regulatory requirements. Most Americans have access to Talkspace through their health insurance plans, employee assistance programs, our partnerships with leading healthcare companies, or as a free benefit through their employer, school, or government agency.

For more information, visit www.talkspace.com