News from the Wire

Phreesia to Acquire AccessOne

Friday, September 05, 2025 — 16:15:29 (UTC)

ALL-REMOTE COMPANY/WILMINGTON, Del.--(BUSINESS WIRE)--Phreesia, Inc. (NYSE: PHR) (“Phreesia”), a trusted leader in patient activation, today announced it has entered into a definitive agreement to acquire AccessOne Parent Holdings, Inc. (together with its subsidiaries, “AccessOne”), a portfolio company of Frontier Growth, for aggregate consideration of $160 million in cash (the “AccessOne Acquisition”). The transaction is 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.

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

“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,” said Chaim Indig, Phreesia’s CEO and Co-Founder. “Phreesia has partnered with our clients to offer payment plans for many years and we believe the addition of AccessOne’s platform is a natural progression that will integrate well with our existing products and that we expect will add to our overall addressable market.”

“When we began thinking of the right home for AccessOne, Phreesia consistently came up as a natural fit operationally, strategically and culturally,” said Mark Spinner, CEO of AccessOne. “We look forward to drawing on the resources of a larger organization with domain expertise, access to capital and a strong reputation among clients, employees and investors.”

Lynn Ansley, VP of Revenue Cycle Management at Moffitt Cancer Center, the first National Cancer Institute-designated Comprehensive Cancer Center based in Florida, commented, "We have a deep commitment to providing personalized care including during patients' financial experience. Our partnerships with both Phreesia and AccessOne over the years have benefited thousands of families with superior transparency and affordability while we work together to find a cure faster. We are excited to see two of our trusted partners join forces.”

Transaction Highlights

Phreesia will acquire AccessOne Parent Holdings, Inc. for $160 million in cash, subject to customary closing and post-closing adjustments. Phreesia intends to finance the acquisition through a combination of cash from its balance sheet and proceeds from a new, fully committed bridge loan.

Financial Impact

Phreesia preliminarily expects the AccessOne Acquisition to contribute approximately $35 million of annualized revenue and $11 million of annualized Adjusted EBITDA.1 Phreesia expects to update its fiscal 2026 financial outlook following the close of the transaction.

Phreesia also expects to incur expenses associated with the transaction that will be detailed in our financial reporting through a reconciliation from GAAP to non-GAAP results following the closing of the transaction.

Advisors

Goldman Sachs is acting as financial advisor and Lowenstein Sandler LLP is acting as acquisition counsel to Phreesia.

Houlihan Lokey is serving as exclusive financial advisor and Womble Bond Dickinson (US) LLP is acting as acquisition counsel to AccessOne.

Forward-Looking Statements

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Source: Company press release.

Categories: Acquisition