Accolade, Inc. (NASDAQ:ACCD) shares are trading higher on Wednesday after it announced that Transcarent will acquire the company. Here's what you need to know.

What To Know: Transcarent will acquire Accolade for $7.03 per share in cash, representing a premium of approximately 110% over Accolade's closing stock price on Jan. 7.

The acquisition of Accolade will combine its generative AI-powered WayFinding and care services, including Cancer Care, Surgery Care and Weight Health, with Accolade's Personalized Healthcare Platform and expertise in advocacy, medical opinions and primary care.

CEO of Accolade, Rajeev Singh, said, "Joining forces with Transcarent allows us to expand our mission of empowering people to make the best decisions for their health and wellbeing. The two companies share a focus on embracing AI and advanced technology to change the way consumers experience the healthcare system."

The acquisition has been approved by both companies' board of directors. The transaction is expected to close during the 2025 second-quarter after gaining approval from Accolade shareholders and receiving regulatory approval.

Accolade shares are trading at 15.56 million, above the average session volume over the past 100 days of 1.32 million shares, per data from Benzinga Pro.

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ACCD Price Action: At the time of writing, Accolade stock is trading 104.6% higher at $6.86, according to data from Benzinga Pro.

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