Welcome to our dedicated page for Accolade news (Ticker: ACCD), a resource for investors and traders seeking the latest updates and insights on Accolade stock.
This page provides a historical news archive for Accolade, Inc. (formerly Nasdaq: ACCD), a Personalized Healthcare company that combined virtual primary care and mental health, expert medical opinion, and care navigation for employers, health plans, and consumers. The news flow around Accolade documents its evolution as a public company and its eventual merger with Transcarent.
Readers can find company-issued announcements describing Accolade’s financial results, investor conference presentations, and guidance updates during its time as a listed company. These items include earnings releases, notices about upcoming quarterly results, and participation in healthcare and investor conferences, all framed around its Personalized Healthcare platform and focus on predictive engagement, proactive care, and addressing barriers to access and continuity of care.
The archive also includes press releases detailing strategic developments, such as the expansion of PlushCare, Accolade’s virtual health business unit, to accept Medicare Part B for direct-to-consumer virtual care. These releases describe efforts to broaden access to primary care, clinical weight management services, and mental health support for Medicare beneficiaries across all 50 states.
A significant portion of the news coverage centers on the acquisition of Accolade by Transcarent. Initial announcements describe a definitive agreement for Transcarent to acquire Accolade for cash consideration per share, followed by stockholder approval of the merger and, later, confirmation that the transaction was completed. These items explain that, after the merger, Accolade became part of a privately held company and its common stock would no longer be listed on Nasdaq or any public market.
Investors and researchers can use this news page to trace how Accolade positioned its Personalized Healthcare offerings, how it communicated with the market, and how the combination with Transcarent was described by both organizations over time.
Accolade, Inc. (Nasdaq: ACCD) announced plans to offer $250 million in convertible senior notes due 2026 in a private placement. The offering aims to provide funds for corporate purposes, including working capital and strategic investments. An additional $37.5 million may be purchased by initial buyers. The notes will be unsecured, with interest accruing semiannually. Capped call transactions are intended to mitigate potential dilution from conversions. The offering is subject to market conditions and has not been registered under the Securities Act.
Accolade, Inc. (Nasdaq: ACCD) has finalized its acquisition of Innovation Specialists, LLC (d/b/a 2nd.MD) for up to $460 million. This strategic move combines expertise in benefit navigation, health advocacy, and expert medical opinions, enhancing healthcare navigation for over 9 million lives across 400 customers. The transaction includes $230 million in cash and stock, with an additional $100 million contingent upon revenue milestones. This merger is expected to expand Accolade’s addressable market by $22 billion.
Accolade, Inc. (NASDAQ: ACCD) will participate in two upcoming investor conferences: the BTIG Virtual MedTech Conference on February 17, 2021, at 4:00 p.m. E.T. and the SVB Leerink Global Healthcare Conference on February 24, 2021, at 9:20 a.m. E.T. Audio webcasts and presentation materials will be available at ir.accolade.com. Accolade offers personalized health and benefits solutions, aiding users in navigating the healthcare system, achieving high consumer satisfaction ratings and lowering healthcare costs.
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Accolade (Nasdaq: ACCD) has appointed Cindy R. Kent to its board of directors, effective immediately. Kent, the current executive vice president of Brookdale Senior Living and former head of 3M's Infection Prevention Division, brings extensive healthcare and business operations experience. CEO Rajeev Singh expressed that her leadership will provide valuable insights as Accolade grows. Kent's proven track record includes overseeing significant revenue operations in major healthcare sectors. Additionally, the company announced the departure of board members Michael Yang and Jim Madden.
Accolade has announced its acquisition of 2nd.MD, a leading Expert Medical Opinion company, for up to $460 million. The deal involves $230 million in cash, $130 million in stock, and up to $100 million contingent on revenue milestones. This acquisition aims to enhance Accolade's healthcare navigation services, targeting a market expansion worth $22 billion. The integration is expected to be accretive to revenue growth in fiscal 2022, with the potential for significant employer savings per consultation. The transaction is anticipated to close by February 2021.
Accolade, Inc. (NASDAQ: ACCD) will present at the 39th Annual J.P. Morgan Healthcare Conference on January 14, 2021, at 2:50 p.m. E.T. This event will include an audio webcast and presentation materials available on their investor relations website. Accolade specializes in personalized, technology-enabled healthcare solutions that help individuals navigate the healthcare system effectively. The company aims to empower users with over 90% consumer satisfaction and a Net Promoter Score (NPS) of 60.
Accolade, Inc. (NASDAQ: ACCD) reported a fiscal third-quarter 2021 revenue of $38.4 million, reflecting a 30% increase from $29.7 million in the same quarter last year. This growth was attributed to new customer additions across various market segments. The company raised its revenue outlook for the fiscal year to $162 million to $165 million, indicating a projected growth of 22% to 25% over fiscal year 2020. Despite a net loss of $(16.6) million, down from $(18.3) million, Accolade's adjusted gross profit rose 32%.
Accolade, Inc. (NASDAQ: ACCD) will release its fiscal Q3 2021 financial results on January 7, 2021, after the market close. A conference call will follow at 4:30 p.m. ET to discuss the results. Participants can join by calling 1-833-519-1281 or via an audio webcast on Accolade's investor relations website. The company specializes in personalized health and benefits solutions, enhancing engagement through tailored support and technology. Accolade aims to lower healthcare costs while maintaining high consumer satisfaction ratings above 90% and an NPS of 60.
Accolade, Inc. (NASDAQ: ACCD) participated in the William Blair Healthcare 2021 Focus List Event on December 17, 2020. Rajeev Singh, CEO, delivered a fireside chat presentation, discussing Accolade's innovative healthcare solutions. The company specializes in personalized, technology-driven health and benefits solutions that empower individuals to navigate their healthcare systems effectively. With a remarkable NPS of 60 and consumer satisfaction rates exceeding 90%, Accolade aims to simplify healthcare for employees while reducing associated costs.