Phreesia to Acquire AccessOne for $160M, Expanding Payment Solutions

Phreesia, a healthcare technology company, has agreed to acquire AccessOne Parent Holdings for $160M in cash. AccessOne is a market leader in providing financing solutions for healthcare receivables. The acquisition expands Phreesia's suite of payment solutions and complements its patient engagement platform. The deal is expected to close in Q4 2022, subject to regulatory approvals.

Phreesia, Inc. (NYSE: PHR), a leading healthcare technology company, has announced its intention to acquire AccessOne Parent Holdings, Inc. for an aggregate consideration of $160 million in cash. The acquisition, expected to close during the third quarter or early fourth quarter of Phreesia’s 2026 fiscal year, subject to customary closing conditions and regulatory approvals, aims to expand Phreesia's suite of payment solutions.

AccessOne is a market leader in providing financing solutions for healthcare receivables, working with some of the largest health systems in the U.S. The company manages a receivables portfolio of approximately $450 million and offers healthcare providers a scalable, compliant, and operationally efficient tool that improves collections without undermining patient trust.

The acquisition will integrate AccessOne's platform with Phreesia's existing products, enhancing Phreesia's ability to offer comprehensive payment plans. Chaim Indig, Phreesia's CEO and Co-Founder, commented, "We have followed AccessOne’s progress over many years and admired its approach to addressing a critical gap in care that is consistent with our mission of making care easier every day."

Mark Spinner, CEO of AccessOne, expressed his excitement about the acquisition, stating, "When we began thinking of the right home for AccessOne, Phreesia consistently came up as a natural fit operationally, strategically and culturally." Lynn Ansley, VP of Revenue Cycle Management at Moffitt Cancer Center, also expressed her enthusiasm for the partnership, noting that it would benefit thousands of families with superior transparency and affordability.

Phreesia expects the acquisition to contribute approximately $35 million of annualized revenue and $11 million of annualized Adjusted EBITDA. The company will finance the acquisition through a combination of cash from its balance sheet and proceeds from a new, fully committed bridge loan. Goldman Sachs is acting as financial advisor, and Lowenstein Sandler LLP is serving as acquisition counsel to Phreesia. Houlihan Lokey is the exclusive financial advisor, and Womble Bond Dickinson (US) LLP is acting as acquisition counsel to AccessOne.

The acquisition is subject to various risks, including the ability to secure required consents and regulatory approvals, the ability to obtain funding, and the ability to integrate operations or realize any operational or corporate synergies. Despite these risks, the acquisition is expected to expand Phreesia's total addressable market and strengthen its position in the healthcare technology sector.

References:
[1] https://www.businesswire.com/news/home/20250904480505/en/Phreesia-to-Acquire-AccessOne-Expanding-Its-Suite-of-Payment-Solutions