Healthtech firm Accolade is buying telemedicine start-up 2nd.MD for $460 million, sources say

Accolade is close to announcing the acquisition of Houston-based Innovation Specialists, parent company of 2nd.MD, for about $460 million, according to people with knowledge of the situation. The transaction will be half in cash and the rest in Accolade shares, a portion of which is contingent on revenue targets, and will close next month, said the people, who declined to be identified speaking about the deal. Founded in 2011, 2nd.MD automates the process of getting second opinions so they happen within days over video or telephone, rather than taking weeks to schedule as is more typical.