Why Is Accolade Stock Trading Over 100% On Tuesday?

Core Insights - Transcarent has agreed to acquire Accolade Inc for $621 million, translating to a cash price of$7.03 per share [1][3] - The merger aims to integrate Transcarent's generative AI-powered services with Accolade's Personalized Healthcare platform, enhancing care experiences [2][4] - The acquisition price represents a 110% premium over Accolade's stock price prior to the announcement, with Accolade's stock rising 104.7% following the news [3] Company Overview - Accolade specializes in Personalized Healthcare, providing solutions for employers, health plans, and consumers, including virtual primary care and mental health services [1] - Transcarent offers specialized programs such as Cancer Care, Surgery Care, and Weight Health, which will be combined with Accolade's expertise [2][4] Financial Details - The transaction is financed by General Catalyst and Glen Tullman's 62 Ventures, with an expected closing date in the second calendar quarter of 2025 [3] - The acquisition is anticipated to simplify healthcare processes and improve patient outcomes through a unified platform [3][4]