Talkspace (NASDAQ: TALK) shares strengthened Monday. The company, dealing in online behavioral health, is now available to approximately 9.5 million active duty and retired military personnel and their dependents as an in-network benefit through partnerships with TRICARE East and West region contractors. Eligible beneficiaries, including partners and teen dependents (13+), can now receive therapy from a licensed clinician or psychiatric services (for those 18+) from a Board-certified psychiatrist or psychiatric nurse practitioner–all virtually and privately.
Depression affects23% of active-duty service members, with rates of suicide increasing bymore than 40% in recent years. Asurvey of military spouses found that 92% reported feeling increased stress levels during a spouse’s deployment while 85% said they felt anxious or depressed.
“From deployments, the current geopolitical landscape, not to mention the daily stressors that affect families, many active-duty and reservist military service members and their dependents need support. It’s vitally important that they can access high-quality mental health treatment affordably, privately and conveniently,” said Erin Boyd, Talkspace’s Chief Growth Officer.
As part of the rollout of in-network coverage nationally, Talkspace will kick off a robust partnership with Military Brands, owner of MyBaseGuide, a thorough digital resource for all active-duty military personnel, civilians, and their families who live and work on a military base within the United States.
TALK shares brightened 4.5 cents, or 1.4%, to $3.26.
