Transcarent to Acquire Accolade for $621 Million at $7.03 Per Share, Serving 1,400 Clients

Jan 8, 2025, 02:32 PM

Transcarent, a healthcare navigation company, has announced plans to acquire Accolade, a health benefits platform, for $621 million. The deal, which values Accolade at $7.03 per share, represents a 110% premium over its closing stock price on the previous trading day. The transaction will be financed through an equity financing led by General Catalyst and 62 Ventures, with the deal expected to close in the second quarter of 2025. Upon completion, Accolade will become a privately held company and its common stock will no longer be listed on Nasdaq. The combined company aims to serve over 1,400 employer and payer clients, enhancing Transcarent's mission to provide high-quality, affordable health and care by integrating its generative AI-powered WayFinding and care experiences with Accolade's advocacy, expert medical opinions, and primary care services.