Latest news with #GlenTullman
CNBC
43 minutes ago
- Business
- CNBC
14. Transcarent
Founder: Glen Tullman (CEO)Launched: 2020Headquarters: Denver, ColoradoFunding: $940 millionValuation: $3 billionKey Technologies: Artificial intelligence, generative AIIndustry: Health carePrevious appearances on Disruptor 50 list: 1 (No. 17 in 2024) Over a third of insured adults say it's difficult to understand what their health insurance covers, according to research from health policy organization KFF. The confusion that comes with navigating insurance can result in more costly medical bills. Digital health startup Transcarent wants to tackle this challenge and help Americans receive affordable, high-quality care. Designed for self-insured employers and their workforces, Transcarent provides employees with personalized care, medication savings and information regarding their benefits. Members are guided based on their individual medical history and insurance plan, and their top spending categories, whether it is cancer care, muscle and joint health, mental health or weight management. Transcarent also provides pharmacy care and claims that it has saved clients 40% on pharmacy costs. The information that is analyzed for each member is designed to suggest next clinical steps and connect them with virtual and in-person medical professionals best suited to treat their specific needs. It is also creating more narrow one-stop shop solutions based on critical health needs. Transcarent partnered with Evernorth Health Services' new Oncology Benefit Services program in October, combining cancer services, medical benefits and personalized patient support in one digital platform. The biggest deal for Transcarent closed in April, when it officially acquired Accolade, a health-care delivery, navigation and advocacy service which had gone public in 2020, for $621 million. Now working as a combined organization, Transcarent and Accolade are serving more than 20 million members, along with over 1,700 employer and health plan clients. "Transcarent and Accolade coming together is an important step to make it easier for everyone to access the high-quality, affordable health and care they deserve," said Transcarent CEO Glen Tullman in a statement. Before Transcarent, Tullman was the CEO of remote health management company Livongo until it was acquired by Teladoc in 2020. At that time, the merger led the companies to a joint enterprise value of $37 billion. Now, Teladoc's market cap is just under $2 deal is a poster child for the the growing pains that the digital health sector has run into after a rapid rise during the Covid era. Accolade was one of the many digital health companies that went private due to the industry slowdown in 2024. Despite this post-pandemic shift, Transcarent announced a $126 million Series D investment last year led by General Catalyst and 7wireVentures, where Tullman is co-founder and serves as a managing partner. In an interview with health and medicine news site STAT, Tullman said that Transcarent plans to use its latest funding to further expand its application's AI and pursue additional acquisitions.
Time Out
16-05-2025
- Entertainment
- Time Out
A $50 million magic theater is coming to Chicago's Magnificent Mile
Magnificent Mile in Streeterville has long been home to designer fashion, Michelin-starred dining, and annual an Art Festival. Soon, the famed district will enchant visitors with a sprawling $50 million magical theater destination called The Hand & The Eye. Brainchild of Chicago healthcare entrepreneur Glen Tullman, the sorcery will span 36,000 square feet of the historic McCormick Mansion (formerly home to Lawry's Prime Rib), including not one but seven theaters, multiple bars, and a massive dining space—all dedicated to the art of illusion. "This is not some six-month pop-up thing. This is a once-in-a-generation project,' Tullman told The Chicago Tribune. Guests will move among multiple upscale, all-adult experiences, ranging from live jazz sets to illusions by self-proclaimed "curator of magic" Jeff Kaylor. Bars will be equipped for sleight-of-hand drink slinging, a nod to Chi-Town's rich history of magician-barkeeps. No word on food menu specifics just yet, but Levy Restaurants CEO Andy Lansing equated it to "Pump Room in its heyday." "We want to open up people's imaginations," Kaylor told the Tribune. "And create a place where every magician in the world wants to perform." Visitors will purchase a single inclusive ticket for timed reservations at a premium price point yet to be determined. Could dinner be served in the famed fourth-floor ballroom, which hosted upwards of 400 guests and visiting royalty in its early days?! Either way, expect a dress code. Club memberships will be available to residents and regulars, à la Soho House, offering access to the venue's various bars and stages through a dedicated entrance. Members must first learn a magic trick before the bewitching can begin. As for the renovations, antiquities aficionados will be glad to know the mansion's original grand staircase and fireplace will remain intact, as will its historic exterior, which dates to 1899. History, in fact, plays a huge part: At various moments in lifetime, the house boasted a puppet theater and members-only nightclub called the Continental Casino. Set to debut in March 2026, The Hand & The Eye is slated to be open nightly from 5pm to midnight. Eventually, weekend brunches and daytime hours may roll out for more family-friendly performances. Need your fix now? Head to Chicago Magic Lounge in Andersonville, Rhapsody Theatre in Rogers Park Petterino's Restaurant.
Yahoo
08-04-2025
- Business
- Yahoo
Transcarent Completes Merger With Accolade
Creating the Most Comprehensive Health and Care Platform for Employers and Health Plans Serving 20 Million Members & 1,700 Employer and Health Plan Clients SAN FRANCISCO & SEATTLE, April 08, 2025--(BUSINESS WIRE)--Today Transcarent announced the successful completion of its merger with Accolade, the leading health advocacy, expert medical opinion, and virtual primary care company in the market. The combined organization now serves over 20 million Members and more than 1,700 employer and health plan clients as the One Place for Health and Care. With the completion of the transaction, Transcarent will offer a health and care experience that is unmatched in its ability to offer choice, quality, and affordability to health consumers, self-insured employers, and health plans. Transcarent's AI-powered WayFinding and comprehensive Care Experiences – Cancer Care, Surgery Care, Weight Health – along with its Pharmacy Benefit offering combined with Accolade's leadership in health advocacy, expert medical opinion, and virtual primary care, offers a broad array of choices to make it easy for people to get the services they need, deliver better health outcomes, and significantly reduce costs. "Transcarent and Accolade coming together is an important step to make it easier for everyone to access the high-quality, affordable health and care they deserve," said Glen Tullman, Chief Executive Officer of Transcarent. "WayFinding is already delivering faster and more personalized answers to critical health questions and easy access to care, when and where people need it, and always on their terms. Whether that's meeting virtually with their trusted primary care physician, instant connection to a Care Advocate, or getting care for complex needs like cancer treatment or surgery. Adding Accolade's people and capabilities will significantly enhance our existing offerings. We're creating an entirely new way to experience health and care. We are truly better together." We Deliver the Most Comprehensive, Personalized Health and Care Experience It's Only Getting Better Together, Transcarent and Accolade are making it easy to get expert clinical guidance and high-quality care on a single, trusted platform. The experience will be enhanced by better technology, better care, and better access all in one place: Investing in Technology to Deliver Better Access and AnswersTranscarent and Accolade have independently invested in AI and technology systems that make their experiences easier to use, resulting in industry leading engagement that delivers better health outcomes and drives down costs. The expansive data-driven platform brings together Transcarent's AI-powered WayFinding with Accolade's True Health Actions, delivering clinical guidance personalized for each is the first experience using generative AI application to ensure people can both understand and use their health and care benefits. By combining benefits navigation and clinical guidance with instant access to care providers, WayFinding supports each person throughout their health and care Health Actions, developed by Accolade, begin by ingesting employer and health plan data, Electronic Medical Record data, and various other data sets to create an individual Member profile that includes clinical and social factors. Members are then given a True Health Action Plan. True Health Action plans are used to inform targeted outreach for case management, to create care suggestions, and to support collaboration with Care Advocates and Health AI solutions, pioneered by software engineers at Transcarent and Accolade, are being used to enable doctors, nurses, and specialists to be more productive, so they have the time to focus on their patients instead of cumbersome and time-consuming administrative work, eliminating much of the administrative, billing, and prescription work they used to do. More Care Delivered the Way You Want ItHealth consumers can get the care they need, on their terms. Whether someone wants to call us, get Care in 60 Seconds, schedule an appointment, or talk to our AI Care Assistant, care is always available, 24x7x365. Transcarent is their one place to go for health needs, simple or complex: get primary and urgent care, schedule an appointment for recurring chronic conditions with your regular doctors (virtual or in their office) or manage complex care like cancer or surgery. Members receive personalized guidance, exceptional care, and an easy to understand Health Action Plan to optimize health have a shared commitment to delivering a quality-first experience. Whether leaning on strengths in advocacy, expert medical opinions, and primary care, through a Transcarent Care Experience, or providing easy access to one of our Trusted Partners, Members have better health outcomes and those paying for care see lower also believe that trust is paramount, and it comes from aligning on the principle that the best care delivered may be reducing unnecessary treatments, procedures, and surgeries by ensuring quality information and clinical consultations are available early in the care process. Through access to industry-leading expert medical opinions from industry partners and our own offering, Members have access to expert physician specialists representing all specialties and subspecialties. More Choice in Point Solutions and Care ExperiencesAccolade's Trusted Partner Ecosystem of point solutions and Transcarent's relationships including local and virtual providers, will now be offered together in our Experience Store, allowing employers and health plans to choose what's best for the people they serve --- all available on one secure platform --- and accessible through single sign-on integration. Deep integration with point solution partners in areas like mental health, diabetes, fertility and musculoskeletal care will allow our platform to meet the diverse care needs of the populations we serve while reducing fragmentation and increasing appropriate utilization. "Together we will now have the largest Experience Store with solutions covering a broad range of health conditions. This merger provides health consumers, employers, and health plans with more options to meet each of their diverse health and care needs. Powered by technology that drives personalized solutions, higher engagement, and easy access to physicians and other healthcare professionals when needed, we offer choice and put people back in charge of their care, which delivers measurably better health and care outcomes and does so at lower overall costs. This is far beyond legacy navigation," said Snezana Mahon, Pharm.D., President of Transcarent. Leadership Team Glen Tullman will continue as Chief Executive Officer of the combined organization. The company is also excited to announce the promotion of Snezana Mahon, Pharm.D., to President. The go-forward leadership team will focus on delivering the same exceptional service and support that both organizations have delivered independently while introducing new capabilities that enhance the overall health and care experience of our Members. The Executive Leadership Team, reporting to Tullman, includes key business talent from both organizations: Stephanie Peng, Chief Financial Officer Kristen Bruzek, EVP, Care Delivery Operations Connie Hwang, MD, Chief Clinical Officer Laurie McGraw, Chief Commercial Officer Abhi Pathak, Chief Product Officer Drew Garner, Co-Chief Technology Officer Praful Kaul, Co-Chief Technology Officer Caitlin Fleming, Chief Strategy Officer Janine Gianfredi, Chief Marketing Officer Tom Richards, EVP, Consultant Relations & Business Development Erica Davila, General Counsel Rachel Stillman, Chief of Staff Transaction Details Transcarent announced the intent to acquire Accolade (NASDAQ: ACCD) on January 8th, completing the transaction in three months. Under the terms of the agreement, Accolade shareholders received $7.03 per share in cash. The acquisition financing was led by General Catalyst and Glen Tullman's 62 Ventures, along with existing and new investors, in addition to cash on hand from the combined company's balance sheet and debt financing led by J.P. Morgan. The transaction, valued at approximately $621 million, has received all necessary regulatory and shareholder approvals and Accolade is now part of a privately held company, and its common stock will no longer be listed on Nasdaq. For more information on this announcement, please visit: About Transcarent Transcarent and Accolade have come together to create the One Place for Health and Care, the leading personalized health and care experience that delivers unmatched choice, quality, and outcomes. Transcarent's AI-powered WayFinding, comprehensive Care Experiences – Cancer Care, Surgery Care, Weight Health – and Pharmacy Benefits offerings combined with Accolade's health advocacy, expert medical opinion, and primary care, allows us to meet people wherever they are on their health and care journey. Together, more than 20 million people have access to the combined company's offerings. Employers, health plans, and leading point solutions rely on us to provide trusted information, increase access, and deliver care. For more information, visit or and follow us on LinkedIn, X, Instagram, and Facebook. View source version on Contacts Media Contact: TranscarentLeslie Krigstein, VP, Communications & Government 802-598-3305 Sign in to access your portfolio
Yahoo
24-02-2025
- Business
- Yahoo
Transcarent and Accolade Announce Expiration of Hart-Scott Rodino Waiting Period for Pending Merger Transaction
SAN FRANCISCO and SEATTLE, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Transcarent, the One Place for Health and Care, and Accolade (NASDAQ:ACCD), a leader in health advocacy, expert medical opinions, and primary care, today announced the expiration of the waiting period under the Hart-Scott-Rodino ('HSR') Antitrust Improvements Act of 1976 with respect to the previously announced merger between the two companies. The transaction remains on track to be completed in the second quarter of calendar year 2025, subject to Accolade stockholder approval and satisfaction of other customary closing conditions. Glen Tullman, Chief Executive Officer of Transcarent, said, 'With this milestone behind us, we are one step closer to bringing together two companies that share a common vision for improving health and care for everyone. By integrating Transcarent's industry-first, generative AI-powered WayFinding solution and comprehensive care experiences with Accolade's advocacy, expert medical opinions, and primary care, we will deliver a solution that creates the next generation beyond traditional navigation.' Rajeev Singh, Chief Executive Officer of Accolade, said, 'We are excited to pass this important milestone and continue our work to join forces with Transcarent. All healthcare consumers deserve the right to make the best decisions for their health and wellbeing, and we believe this combination will empower them with the tools, technology, and empathetic human touch to achieve that goal.' Advisors Evercore serves as the exclusive financial advisor to Transcarent and Wilson Sonsini Goodrich & Rosati, Professional Corporation serves as legal advisor to Transcarent. Morgan Stanley & Co LLC serves as exclusive financial advisor to Accolade and Cooley LLP serves as legal advisor to Accolade. About Transcarent Transcarent is the One Place for Health and Care, making it easy for people to access high-quality, affordable health and care. Transcarent offers a number of Care Experiences and WayFinding, a new experience powered by generative AI, that allows people to instantly access benefits navigation, clinical guidance and care delivery including on-demand care provided by physicians and other health and care professionals. Transcarent is aligned with those who pay for healthcare (self-insured employers, health consumers, and the payors who support them) and creates a measurably better experience, higher-quality health, and lower costs. For more information, visit and follow us on LinkedIn or X. About Accolade Accolade (Nasdaq: ACCD) is a Personalized Healthcare company that provides millions of people and their families with exceptional healthcare experiences so they can live their healthiest lives. Accolade's employer, health plan, and consumer solutions combine virtual primary care and mental health, expert medical opinion, and best-in-class care navigation. These offerings are built on a platform that is engineered to care through predictive engagement of population health needs, proactive care that improves outcomes and cost savings, and addressing barriers to access and continuity of care. Accolade consistently receives consumer satisfaction ratings of over 90%. For more information, visit Follow us on LinkedIn, X, Instagram, and Facebook. Additional Information and Where to Find It This communication may be deemed to be solicitation material in respect of the proposed acquisition of Accolade by Transcarent pursuant to the Agreement and Plan of Merger, dated as of January 8, 2025, by and among Accolade, Transcarent and Acorn Merger Sub, Inc. Accolade filed a definitive proxy statement (the 'Proxy Statement') with the U.S. Securities and Exchange Commission (the 'SEC') with respect to a special meeting of stockholders to be held in connection with the proposed transaction. Accolade is mailing the Proxy Statement and a proxy card to each stockholder entitled to vote at the special meeting to consider the proposed transaction. The Proxy Statement contains important information about the proposed transaction and related matters. Before making any voting or investment decision, investors and security holders of Accolade are urged to carefully read the entire Proxy Statement (including any amendments or supplements thereto) and any other documents relating the proposed transaction that Accolade will file with the SEC or incorporated by reference when they become available because such documents will contain important information regarding the proposed transaction. Investors and security holders of Accolade may obtain a free copy of the preliminary and definitive versions of the proxy statement, as well as other relevant filings containing information about Accolade and the proposed transaction, including materials that are incorporated by reference into the Proxy Statement, without charge, at the SEC's website ( or from Accolade by going to Accolade's Investor Relations page on its website ( and clicking on the link titled 'SEC Filings'. Participants in the Solicitation Accolade and certain of its directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding the interests of the Accolade's directors and executive officers and their ownership of the Accolade's common stock is set forth in Accolade's annual report on Form 10-K filed with the SEC on April 26, 2024, and Accolade's proxy statement on Schedule 14A filed with the SEC on June 21, 2024 (the 'Annual Meeting Proxy Statement'). Please refer to the sections captioned 'Security Ownership of Certain Beneficial Owners and Management,' 'Director Compensation,' and 'Executive Compensation' in the Annual Meeting Proxy Statement. To the extent holdings of such participants in Accolade's securities have changed since the amounts described in the Annual Meeting Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests in the proposed transaction, by security holdings or otherwise, will be contained in the Proxy Statement. Copies of these documents may be obtained, free of charge, from the SEC or Accolade as described in the preceding paragraph. Notice Regarding Forward-Looking Statements This release includes 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as 'anticipate,' 'estimate,' 'plan,' 'project,' 'continuing,' 'ongoing,' 'expect,' 'believe,' 'intend,' 'may,' 'will,' 'intend,' 'maintain,' 'might,' 'likely,' 'potential,' 'predict,' 'target,' 'should,' 'would,' 'could' or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the benefits of and timeline for closing the proposed transaction with Transcarent. These statements are based on various assumptions, whether or not identified in this release, and on the current expectations of Company management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond the control of Accolade. These forward-looking statements are subject to a number of risks and uncertainties, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed transaction that could delay the consummation of the proposed transaction, result in the imposition of conditions that could reduce the anticipated benefits of the proposed transaction or cause the parties to abandon the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement entered into in connection with the proposed transaction; the possibility that Accolade's stockholders may not approve the proposed transaction; the risk that the parties to the merger agreement may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all; risks related to the anticipated benefits of the proposed transaction or other commercial opportunities not being fully realized or taking longer to realize than expected; the competitive ability and position of the combined company; risks related to uncertainty surrounding the proposed transaction and disruption of management time from ongoing business operations due to the proposed transaction; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of Accolade; the risk of any unexpected costs or expenses resulting from the proposed transaction; the risk of any litigation relating to the proposed transaction; the risk that either business may be adversely affected by other economic, business and/or competitive factors; the risk that restrictions during the pendency of the proposed transaction may impact either company's ability to pursue certain business opportunities or strategic transactions; the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Accolade to retain and hire key personnel and to maintain relationships with customers, vendors, partners, employees, stockholders and other business relationships and on its operating results and business generally; and risk related to general market, political, economic and business conditions. Further information on factors that could cause actual results to differ materially from the results anticipated by the forward-looking statements is included in Accolade's Annual Report on Form 10‑K for the fiscal year ended February 29, 2024, Quarterly Reports on Form 10‑Q, Current Reports on Form 8‑K, the Proxy Statement and other filings made by Accolade from time to time with the Securities and Exchange Commission. These filings, when available, are available on the investor relations section of Accolade's website ( or on the SEC's website ( If any of these risks materialize or any of these assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Accolade presently does not know of or that Accolade currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. The forward-looking statements included in this release are made only as of the date hereof. Accolade assumes no obligation and does not intend to update these forward-looking statements, except as required by law. Media Contacts:TranscarentLeslie 802-598-3305 AccoladeAccolade Media Relationsmedia@ Accolade Investor RelationsIR@ This press release was published by a CLEAR® Verified in to access your portfolio
