Employee benefits tech firm Accolade buys telemedicine startup for $460M

Accolade, a healthcare technology and benefits firm, will acquire telemedicine startup 2nd.MD to increase its ability to give users virtual access to second opinions, CNBC reports.

Accolade is close to closing the $460 million deal, people with knowledge of the situation told CNBC. Half of the transaction will be in cash and the rest in Accolade shares, a portion of which depends on revenue targets.

Founded in 2011, the telemedicine startup automates the process of getting second opinions so they can happen within days over video or phone instead of weeks for in person.

 "2nd.MD will take your medical records and provide them to a network of physicians who specialize in those disease categories, and those physicians will do a video consultation to give you another opinion about what the right next step is," Accolade CEO Raj Singh said in an interview with the network.

 

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