(RTTNews) - Accolade (ACCD), a personalized healthcare company, Wednesday announced that it has entered into an agreement, under which Transcarent, a pioneering platform for health and care solutions, will acquire the company for a consideration of approximately $621 million in cash.
This price represents a premium of approximately 110 percent over Accolade's closing stock price on January 7.
Through the deal, Transcarent intends to offer high-quality affordable healthcare to customers, and more customized experience to Members.
Transcarent will fund the transaction via a fully committed equity financing led by General Catalyst and Glen Tullmans 62 Ventures.
The transaction is expected to close during the second calendar quarter of 2025.
Upon completion, Accolade will become a privately held company, and its common stock will no longer be listed on Nasdaq.
ACCD is currently trading at $6.87 up 105.08 percent or $3.52 on the Nasdaq.
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