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$HEC A thread on Talkspace, the leading digital mental health platform - Disclosure: Long
$HEC This SPAC is sponsored by Hudson Investment w/ $1.5bil in assets and is led by some of the leading execs in healthcare
$HEC Behavioural health is a large market globally with a TAM of $250bil. In America alone, more than 70mil people have mental illnesses
$HEC Talkspace's solution offers a vastly improved form of care vs in-person care, including higher engagement, communication any time, better outcomes measurement...
$HEC Research shows 8-12 wks of therapy is req to show strong clinical outcomes but in-person care only provides 2 wks of care a year
Talkspace provides 5 months of care on average in a year - Each consumer generates an average of $1300
Talkspace provides 5 months of care on average in a year - Each consumer generates an average of $1300
$HEC Talkspace offers both B2C and B2B solutions. B2C is the older solution but is still growing fast today, while B2B was launched more recently and has seen explosive growth w/ customers like Google
$HEC Over 60% of the 2mil people using talkspace have never used another form of care before
Talkspace is endorsed by celebrities like Michael Phelps
Talkspace is endorsed by celebrities like Michael Phelps
$HEC B2B will be a key growth driver with clients to expand number of covered customers and potential for new feature releases
$HEC Revenue and gross profit are both expected to grow double digits over the next few years
$HEC EV of $1.4bil w/ cash of $250mil. Small size makes it an attractive acquisition target for large telehealth companies building out their platform
$HEC Just a reminder that other digital health companies have done very well over time despite poor initial returns after merger announcement $JWS
$HEC Recently, Reno's gov budgeted $1mil+ to give everyone in the city talkspace access - This shows incredibly high value of the platform https://thisisreno.com/2020/12/talkspace-contract-approved-unanimously-by-city-council/
