Accolade Completes Acquisition and Exits Public Markets

The chapter has closed for Accolade as a publicly traded entity. The digital health services provider has been officially acquired by Transcarent in a deal valued at $621 million, resulting in its immediate delisting from the Nasdaq exchange.

Shareholders gave their final approval for the transaction on March 27th, culminating in its official closure on April 8th. Transcarent’s offer of $7.03 per share represented a massive 110% premium over Accolade’s stock price from the day before the deal’s initial announcement, underscoring the significant strategic worth the acquirer placed on the company.

Trading in Accolade shares was halted on the day the acquisition agreement was officially signed. The stock was formally removed from the Nasdaq listing on April 9th, Read more...