Phreesia, Inc., a company specializing in patient activation, has signed a definitive agreement to acquire AccessOne Parent Holdings, Inc., a Frontier Growth portfolio company, in an all-cash deal valued at $160 million. The transaction is expected to close in the third or early fourth quarter of Phreesia’s 2026 fiscal year.
AccessOne is a U.S. market leader in financing solutions for healthcare receivables, working with some of the nation’s largest health systems. Its platform provides providers with a scalable, compliant tool that improves collections while minimizing credit risk and maintaining patient trust. The company currently manages a receivables portfolio of around $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 expand our overall addressable market.”
Phreesia plans to fund the acquisition using a mix of cash from its balance sheet and proceeds from a fully committed bridge loan. The company expects the deal to contribute roughly $35 million in annualized revenue and $11 million in annualized Adjusted EBITDA. Phreesia said it will provide an updated fiscal 2026 outlook once the transaction closes.
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