Accolade and Transcarent Complete Merger, Strengthening Healthcare Technology Landscape

ACCOLADE STOCKHOLDERS APPROVE MERGER WITH TRANSCARENT

Benzinga - March 25, 2023 - Accolade, Inc. (NASDAQ: AC CD), a leading provider of personalized healthcare solutions, announced today that its stockholders have approved the merger between Accolade and Transcarent, Inc.

The merger, which was announced in January, will create a comprehensive healthcare platform that combines Accolade's personalized healthcare solutions with Transcarent's innovative care navigation technology. The combined company will be a leader in the rapidly growing healthcare market, with a strong presence in both the employer-sponsored health insurance and the Medicare Advantage markets.

"We are thrilled that our stockholders have approved this merger, which will enable us to accelerate our mission to improve healthcare outcomes and reduce costs for consumers," said Tom Richards, CEO of Accolade. "The combined company will have a unique opportunity to leverage the strengths of both organizations to drive growth and innovation in the healthcare industry."

The merger is expected to close in the second quarter of this year, subject to customary closing conditions. The combined company will operate under the Accolade name and will be headquartered in Conshohocken, Pennsylvania.

The merger is expected to create a comprehensive healthcare platform that will offer a range of personalized healthcare solutions, including care navigation, condition-specific care, and wellness programs. The combined company will have a strong presence in both the employer-sponsored health insurance and the Medicare Advantage markets, with a focus on improving healthcare outcomes and reducing costs for consumers.

"We believe that this merger will be a game-changer for the healthcare industry," said Nick Lazzarini, CEO of Transcarent. "By combining our strengths, we will be able to offer a more comprehensive and effective healthcare platform that will improve healthcare outcomes and reduce costs for consumers."

The merger is expected to be accretive to Accolade's earnings in the first full year after closing, and is expected to drive long-term growth and profitability for the combined company.

Accolade and Transcarent are expected to close the merger in the second quarter of this year, subject to customary closing conditions. The combined company will operate under the Accolade name and will be headquartered in Conshohocken, Pennsylvania.