Accolade, based in Plymouth Meeting, has received a $20 million strategic investment from Humana Inc. The investment comes as Humana affirms its commitment to advance member engagement within its offerings for commercial employer groups, leveraging Accolade to strengthen its consumer-optimized health platform.
Humana and Accolade first announced their partnership in March 2019, where both companies agreed to integrate their capabilities to create a differentiated health care and benefits experience for individuals and their employers. The companies are expanding their partnership agreement as they continue to create personalized and simplified member experiences and leverage new opportunities around solution flexibility, service delivery, partner integration, and economic value in health care.
Specifically, the strategic investment will allow the two organizations to tailor the Humana with Accolade solution for a broader base of fully-insured and ASO prospects and clients. The investment will enable robust integrations and seamless engagement options that make it easy for new members to access convenient and affordable care. Humana and Accolade will also significantly expand geographies in 2020 and beyond, while building out the teams needed to support product and market expansion.
SVB Leerink LLC served as exclusive financial adviser to Humana in connection with the transaction.
