In my opinion, it shouldn't exist at all. It makes harassment completely worthless post level 9-13 which I think is around the time people usually get it, and UB's get plague for the sole reason of stopping Heart Of Life. Harassment should be a part of the game.
It needs a huge nerf, double the recharge and double the duration time, and increase the cost by 1000g. The passive effects can stay, I guess. If I had it my way however I would remove it entirely, but that's not going to happen.
People who say it's balanced because you can't use it in battle (except with Oak and Queen) have no clue wtf they're talking about.
The fact that you can go into a bunch of towers, do a ton of damage to creeps and the buildings, then walk out, and wait 7 seconds to be completely rejuvenated, and then continue dealing tons of damage is very overpowered. Transitive is right, you can also run away (with a Wand of Speed perhaps) from an opponent who was dealing considerable damage to you and activate it and then a few seconds later turn around and face them again when you're full or close to full. I've done it myself several times and it's lame. You can just take a consumable to remove spit or plague if you're facing a beast.
Anyone who disagrees that it's overpowered is just another abuser, the fact that literally all experienced players purchase it very very often just screams out OP.