What's Happening?
Phreesia, Inc., a company focused on patient activation, has announced a definitive agreement to acquire AccessOne Parent Holdings, Inc., a portfolio company of Frontier Growth, for $160 million in cash. AccessOne is known for providing financing solutions for healthcare receivables, working with major health systems across the U.S. The acquisition is expected to close in the third or early fourth quarter of Phreesia's 2026 fiscal year. Phreesia plans to finance the acquisition through cash from its balance sheet and a new bridge loan. The acquisition is anticipated to contribute approximately $35 million in annualized revenue and $11 million in annualized Adjusted EBITDA.
Why It's Important?
The acquisition of AccessOne by Phreesia is significant as it aims to expand Phreesia's healthcare payment solutions, potentially increasing its market reach and enhancing its product offerings. AccessOne's platform is expected to integrate well with Phreesia's existing products, providing scalable and compliant tools for healthcare providers to improve collections without compromising patient trust. This move could strengthen Phreesia's position in the healthcare industry, offering more comprehensive solutions to address financial challenges faced by healthcare providers.
What's Next?
Phreesia expects to update its fiscal 2026 financial outlook following the completion of the acquisition. The integration of AccessOne's platform into Phreesia's existing offerings will likely be a focus, with potential impacts on the company's market strategy and client partnerships. Stakeholders will be watching for further announcements regarding the financial performance and strategic direction post-acquisition.
