Wilson Sonsini Advises Transcarent on Acquisition of Accolade and Preferred Stock Financing Led by General Catalyst

Client Highlights

January 8, 2025

On January 8, 2025, Transcarent, the “One Place for Health and Care,” and Accolade, a leader in health advocacy, expert medical opinions, and primary care, announced that they have entered into a definitive agreement under which Transcarent will acquire Accolade for $7.03 per share in cash, which represents a total equity value of approximately $621 million. Transcarent will finance the transaction through a fully committed equity financing led by General Catalyst and Glen Tullman’s 62 Ventures. Wilson Sonsini Goodrich & Rosati is advising Transcarent on both the acquisition and the financing.

The transaction is expected to bring Transcarent’s generative AI-powered WayFinding and comprehensive care experiences – Cancer Care, Surgery Care, Weight Health – along with its Pharmacy Benefit offering together with Accolade’s Personalized Healthcare Platform and expertise in advocacy, expert medical opinions, and primary care. Members will have one place to go for their health and care needs, resulting in a better experience, higher-quality care, and lower costs for health consumers, the companies who employ them, and the payers who support them. The transaction is expected to close during the second calendar quarter of 2025 following Accolade stockholder approval, regulatory approvals, and other customary closing conditions.

The Wilson Sonsini team advising Transcarent includes:

M&A
Rich Mullen
Jack Hamilton
Ross Tanaka
Austin Wolfe
Matt Katona
Chris Philogene
Brian Chan
Kaleigh Hawkins-Schulz

Corporate
Mark Baudler
Lianna Whittleton
Angela Loc
Amaan Shaikh
Lindsey Berger
Peter Bratton
Utsav Lall

Delaware Corporate
Amy Simmerman
Ryan Greecher
Tiphanie Cascella

Benefits and Compensation
Sriram Krishnamurthy
Matt Norgard
Jason Chan

Antitrust
Jamillia Ferris
Matt McDonald
Kimberley Biagioli
Baasil Shariff
Miata Eggerly

Technology Transactions
Chris Paniewski
Atussa Simon
Isabel Annino
Kristin Bradley
Khalil Nobles
Morgan Kasenchak
Graham Hendrick
Ariel Friedman
Erica Hur
Anna Weber