Health Benefits Platform Accolade To Acquire Virtual Primary Care Company PlushCare For $450 Million

Accolade, Inc. signed a definitive agreement to acquire PlushCare, which provides virtual primary care and mental health treatment, for $450 million. After the acquisition closes, Accolade intends to begin offering virtual primary care and mental health consultations directly to members. The combined companies plan to streamline access to acute, chronic, and preventive care through PlushCare's virtual settings and Accolade's platform supporting in-person consultation. Adding a primary care team through the deal will help Accolade cut employer costs and improve outcomes.

The $450 million deal consists of $40 million in cash, $340 million in Accolade common stock, and . . .