Spark-Space to be Acquired by DHS Forming Behavioral Health Company: Fernando Aguirre, Announced

WASHINGTON - March 15, 2021 - PRLog -- Spark-Space, the leading digital and virtual behavioral healthcare company, and DHS, a special purpose acquisition company sponsored by DHS Ventures, announced today that they have entered into a definitive merger agreement. The combined company will operate as Spark-Space-DHS. The transaction values Spark-Space at an initial enterprise value of $1.4 billion and will provide the company with $250 million of cash, to be used as growth capital.

Peter Olsen, Co-founder and CEO of Spark-Space, said, "I started Spark-Space nine years ago to establish a next-generation technology company, exclusively focused on behavioral health, with the mission of opening up access to mental healthcare, improving clinical outcomes, and helping those in need live happier and healthier lives. Today, this mission is more important than ever before. We are proud of the positive impact Sperk-Space has made and are excited for the next phase in the company's journey. DHS Executive's experience and relationships in healthcare, expertise in capital markets, and alignment with our mission will be invaluable as we continue to grow, innovate and improve mental health outcomes."

Fernando Aguirre, Vice Chairman of DHS, said, "Spark-Space is a purpose-built technology company designed to meet the unmet medical needs in behavioral health by improving access, decreasing costs, improving outcomes, and creating value for patients, providers, and employers. We are excited to be partnering with Spark-Space's exceptional management team and look forward to working together with them."

Olson will continue to lead Spark-Space, along with Vice Chairman of DHS, Fernando Aguirre and the rest of the company's highly experienced leadership team. Following the closing, Sylvia Hillman will serve as Chairman of the company's new board of directors. Spark-Space will also benefit from the strategic contributions of DHS' Executive Capital's deep bench of healthcare CEO partners.