On January 8, 2025, Transcarent announced its acquisition of Accolade (NASDAQ: ACCD) for $7.03 per share in cash, valuing the deal at $621 million USD (CAD 893 million). The 110% premium offer was unanimously approved by both boards. The acquisition was financed through equity from General Catalyst and Glen Tullman’s 62 Ventures, with debt funding led by J.P. Morgan. Evercore advised Transcarent with legal counsel from Wilson Sonsini Goodrich & Rosati and BLG (Canada), while Morgan Stanley and Cooley LLP advised Accolade.

The transaction closed on April 8, 2025, after securing shareholder and regulatory approvals. Accolade was delisted and is now part of a privately held company.

The merged entity serves over 20 million members and 1,700+ employer and payer clients. Transcarent’s AI-powered WayFinding platform and care experiences—such as Cancer, Surgery, and Weight Health—are now integrated with Accolade’s advocacy, virtual primary care, and expert medical opinion services. Together, they aim to simplify healthcare access, improve outcomes, and reduce costs across the U.S. and Canada.