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, a leader in personalized healthcare, has acquired PlushCare for up to $450 million, enhancing its virtual primary care and mental health services. This deal, completed on June 9, 2021, includes $40 million in cash and $340 million in stock, with potential additional payments tied to revenue milestones. The acquisition is expected to broaden Accolade's market reach in a combined $200 billion addressable market, aiming for improved health outcomes while managing costs. The integration is projected to boost growth and generate new revenue opportunities.
Accolade (Nasdaq: ACCD) announced significant board changes aimed at enhancing healthcare expertise. Elizabeth Nabel, M.D., former president of Brigham and Women's Hospital, and Jeff Brodsky, vice chairman at Morgan Stanley, join the board immediately. This move comes as former board members, including Senator Bill Frist, step down. CEO Rajeev Singh will now also serve as chairman of the board, while Peter Klein becomes lead independent director. The appointments are expected to strengthen Accolade's commitment to transforming the healthcare experience for consumers.
Accolade, Inc. (NASDAQ: ACCD) announced its participation in several upcoming investor conferences. Key events include the 41st Annual William Blair Growth Stock Conference on June 2, 2021, the Goldman Sachs 42nd Annual Global Healthcare Conference on June 8, 2021, and the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021. Each session will feature a fireside chat or presentation, providing insights into the company's innovative healthcare solutions aimed at improving health outcomes and reducing costs. For more details, visit ir.accolade.com.
Accolade, Inc. (NASDAQ: ACCD) will participate in two major investor conferences. The first is the Bank of America 2021 Health Care Conference on May 12, 2021, featuring a presentation at 8:45 a.m. E.T. The second event is the 16th Annual Needham Virtual Technology & Media Conference on May 20, 2021, which will include a fireside chat at 8:00 a.m. E.T. Accolade specializes in personalized health and benefit solutions that help individuals navigate the healthcare system, achieving high consumer satisfaction ratings over 90 percent.
Accolade (NASDAQ: ACCD) reported a 33% increase in fiscal Q4 2021 revenue to $59.2 million and a 29% rise in fiscal year 2021 revenue, reaching $170.4 million. The company anticipates fiscal year 2022 revenue between $260 million and $265 million, with adjusted EBITDA projected between $(38) million and $(42) million. The acquisition of 2nd.MD and the proposed acquisition of PlushCare will expand Accolade's addressable market to over $200 billion. The company also increased its Annual Contract Value by 31% to $211 million and doubled its customer base to 112.
Accolade reported a fiscal fourth quarter 2021 revenue of $59.2 million, up 33% from $44.4 million in the same quarter of 2020. For the fiscal year 2021, revenues reached $170.4 million, a 29% increase year-over-year. The company initiated guidance for fiscal 2022 revenue between $260 million and $265 million, with an expected Adjusted EBITDA loss of $(38) million to $(42) million. Recent acquisitions of 2nd.MD and planned acquisition of PlushCare aim to expand Accolade's addressable market to over $200 billion.
Accolade, Inc. (Nasdaq: ACCD) has announced its acquisition of PlushCare, a leader in virtual primary care and mental health services. This transaction will enable Accolade to enhance its healthcare offerings, directly providing virtual consultations to its members. With a combined addressable market exceeding $200 billion, this acquisition aims to improve health outcomes and reduce costs. The deal is expected to be accretive to Accolade’s growth, leveraging its existing engagement platforms and operational efficiencies. The total transaction value is up to $450 million, with the closing anticipated in June 2021.
Accolade, Inc. (NASDAQ: ACCD) is set to release its fiscal fourth quarter and full year 2021 financial results on May 5, 2021, after market close. A conference call will follow at 4:30 p.m. E.T. for detailed insights into the performance. Accolade offers tailored, technology-driven health solutions, aiming to navigate and optimize healthcare and workplace benefits for users, achieving over 90% consumer satisfaction ratings. Investors can access the call via phone or online, with a replay available for 90 days post-event.
Accolade, Inc. (Nasdaq: ACCD) has announced the pricing of $250 million in 0.50% convertible senior notes due 2026. The private placement is aimed at qualified institutional buyers under Rule 144A of the Securities Act. The initial conversion rate is set at 19.8088 shares per $1,000 principal amount, equating to a conversion price of $50.48 per share, reflecting a 32.5% premium over the last stock price. Proceeds are expected to be approximately $242.4 million and will be utilized for corporate purposes including capital expenditures and acquisitions. The offering closes on March 29, 2021.
Accolade, Inc. (ACCD) reported preliminary financial results for the fiscal year 2021, projecting Q4 revenue between $56.9 million and $57.9 million, and annual revenue between $168.0 million and $169.0 million. The net loss for Q4 is expected to be between $(7.1) million and $(5.6) million, with an annual net loss of $(53.0) million to $(51.5) million. Adjusted EBITDA for Q4 is projected between $0.6 million and $2.1 million, while the annual adjusted EBITDA is expected between $(29.0) million and $(27.5) million. Full results are due on May 5, 2021.