Transcarent agreed to buy Accolade Inc (NASDAQ:ACCD) Wednesday for $621 million.

The purchase price works out to $7.03 per share in cash.

Accolade is a Personalized Healthcare company that offers employer, health plan, and consumer solutions combined with virtual primary care and mental health, medical opinion, and care navigation.

The transaction is expected to bring Transcarent’s generative AI-powered WayFinding and comprehensive care experiences — Cancer Care, Surgery Care, and Weight Health — along with its Pharmacy Benefit offering together with Accolade’s Personalized Healthcare Platform and expertise in advocacy, expert medical opinions (EMO), and primary care.

The merger consideration of $7.03 per share represents a premium of approximately 110% over Accolade’s closing stock price on January 7, 2025, the last trading day prior to public disclosure of the transaction.

General Catalyst and Glen Tullman‘s 62 Ventures provided equity financing for the transaction.

The deal is expected to close during the second calendar quarter of 2025.

The new unified platform aims to simplify healthcare and improve outcomes via:

• Personalized experiences to boost usage and lower costs.
• Combining Accolade’s expertise in advocacy, medical opinions, and primary care with Transcarent’s specialized programs (Cancer Care, Surgery Care, Weight Health).
• Use of Transcarent’s AI tools to reduce paperwork for healthcare providers.
• A platform integration with partners in areas like diabetes, mental health, fertility, and more.

Price Action: Accolade stock is up 104.7% at $6.86 at last check Wednesday.

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