In a bid to beef up the services it can provide directly to customers, Accolade announced on Friday that it plans to acquire telehealth provider PlushCare in a deal worth up to $450 million.
It’s the latest in a spate of acquisitions in which health providers and payers have sought to bring basic telehealth offerings in-house. The move comes after a year of significant expansion for Accolade. The employer benefits platform, which helps employees access care through a guided concierge system, went public in July 2020 and finalized its acquisition of second opinion service 2nd.md last month in a deal worth up to $460 million.
PlushCare provides virtual primary care and mental health services in all 50 states and accepts most insurance. The company most recently raised $23 million during the peak of pandemic-fueled telehealth frenzy last summer.