Houlihan Lokey Advises AccessOne

Houlihan Lokey is pleased to announce that our client AccessOne Parent Holdings, Inc. (AccessOne), a leading provider of technology-enabled patient payment and financing solutions for healthcare providers and a portfolio company of Frontier Growth, has been acquired by Phreesia, Inc. (NYSE:PHR), a trusted leader in patient activation. The all-cash transaction, valued at $160 million, closed on November 12, 2025.

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

Phreesia is a trusted leader in patient activation, giving healthcare providers, life sciences companies, and other organizations tools to help patients take a more active role in their care. Founded in 2005, Phreesia enabled approximately 170 million patient visits in 2024—one in seven visits across the U.S.—enabling Phreesia to make a meaningful impact on a large scale. Offering patient-driven digital solutions for intake, outreach, education, and more, Phreesia enhances the patient experience, drives efficiency, and improves healthcare outcomes.

Houlihan Lokey served as the exclusive financial advisor to AccessOne.

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