M&A TRANSACTION · 2025
Accolade, Inc. acquired by Transcarent, Inc.
$621.0M· 35.5x EBITDA· 1.30x revenue
Target
Accolade, Inc.
United States and Canada
Accolade, Inc., together with its subsidiaries, engages in the development and provision of personalized and technology-enabled solutions that help people to understand, navigate, and utilize the healthcare system and their workplace benefits in the United States. The company offers a platform with cloud-based intelligent technology and multimodal support from a team of advocates and clinicians, including registered nurses, physician medical directors, pharmacists, behavioral health specialists,
Acquirer
Transcarent, Inc.
Strategic buyer
Disclosed financials at time of acquisition
Revenue
$467.5M
EBITDA
$17.5M
Deal Value
$621.0M
EV/EBITDA
35.5x
Context
This $621.0M acquisition of Accolade, Inc. by Transcarent, Inc. sits in the healthtech sub-vertical. The 35.5x EBITDA multiple paid in 2025 can be compared against the population median for healthtech transactions of similar size on our Healthtech valuation hub. Transcarent, Inc. is acquiring as a strategic buyer; see how strategic acquirers typically price healthtech businesses on our Healthtech strategic buyer-pool page.
Source
Data sourced from SEC Fairness Opinion — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology
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