# EDGAR Filing Document

**Accession Number:** 0001481646
**File Stem:** 0001193125-23-039402
**Filing Date:** 2023-2
**Character Count:** 16816
**Document Hash:** a5bcb40cb06b1c6c6ae688de3d827ff0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-039402.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001193125-23-039402

**CONFORMED SUBMISSION TYPE**: SC 13G

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**GROUP MEMBERS**: BELLEVUE ASSET MANAGEMENT (UK) LTD.

**GROUP MEMBERS**: BELLEVUE ASSET MANAGEMENT AG

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Accolade, Inc.
- **CENTRAL INDEX KEY:** 0001481646
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-BUSINESS SERVICES, NEC [7389]
- **IRS NUMBER:** 432117836
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** SC 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91569
- **FILM NUMBER:** 23631928

**BUSINESS ADDRESS:**
- **STREET 1:** 660 W. GERMANTOWN PIKE SUITE 500
- **CITY:** PLYMOUTH MEETING
- **STATE:** PA
- **ZIP:** 19462
- **BUSINESS PHONE:** 610-834-2989

**MAIL ADDRESS:**
- **STREET 1:** 660 W. GERMANTOWN PIKE SUITE 500
- **CITY:** PLYMOUTH MEETING
- **STATE:** PA
- **ZIP:** 19462

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Accolade LLC
- **DATE OF NAME CHANGE:** 20100121
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Bellevue Group AG
- **CENTRAL INDEX KEY:** 0001674546
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** V8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G

**BUSINESS ADDRESS:**
- **STREET 1:** SEESTRASSE 16
- **CITY:** KUESNACHT
- **STATE:** V8
- **ZIP:** 8700
- **BUSINESS PHONE:** 41 44 267 67 77

**MAIL ADDRESS:**
- **STREET 1:** SEESTRASSE 16
- **CITY:** KUESNACHT
- **STATE:** V8
- **ZIP:** 8700

------

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**United States** 

**SECURITIES AND EXCHANGE COMMISSION** 

**WASHINGTON, D.C. 20549** 

------

**SCHEDULE 13G** 

**Under the Securities Exchange Act of 1934** 

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## ACCOLADE, INC.
**(Name of Issuer)** 

**Common Stock** 

**(Title of Class of Securities)** 

**00437E102** 

**(CUSIP Number)** 

**December 31, 2022** 

**(Date of Event Which Requires Filing This Statement)** 

------

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☒ Rule 13d-1(b)

☐ Rule 13d-1(c)

☐ Rule 13d-1(d)

\* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed " for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

------

CUSIP No. 00437E102

1. &nbsp;&nbsp;&nbsp;&nbsp; Names of Reporting Persons &nbsp;&nbsp;&nbsp;&nbsp; Bellevue Group AG

2. &nbsp;&nbsp;&nbsp;&nbsp; Check the Appropriate Box
if a Member of a Group (See Instructions) &nbsp;&nbsp;&nbsp;&nbsp; (a) ☒ (b) ☐

3. &nbsp;&nbsp;&nbsp;&nbsp; SEC Use Only

4. &nbsp;&nbsp;&nbsp;&nbsp; Citizenship or Place of
Organization &nbsp;&nbsp;&nbsp;&nbsp; Switzerland

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 5. | &nbsp;&nbsp;&nbsp;&nbsp;Sole Voting Power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 6. | &nbsp;&nbsp;&nbsp;&nbsp;Shared Voting Power<br>&nbsp;&nbsp;&nbsp;&nbsp;3,677,277 |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 7. | &nbsp;&nbsp;&nbsp;&nbsp;Sole Dispositive Power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 8. | &nbsp;&nbsp;&nbsp;&nbsp;Shared Dispositive Power<br>&nbsp;&nbsp;&nbsp;&nbsp;3,677,277 |

---

9. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate Amount Beneficially Owned by Each Reporting Person &nbsp;&nbsp;&nbsp;&nbsp; 3,677,277

10. &nbsp;&nbsp;&nbsp;&nbsp; Check if the Aggregate
Amount in Row (9) Excludes Certain Shares &nbsp;&nbsp;&nbsp;&nbsp; ☐

11. &nbsp;&nbsp;&nbsp;&nbsp; Percent of Class
Represented by amount in Row (9) &nbsp;&nbsp;&nbsp;&nbsp; 5.1%

12. &nbsp;&nbsp;&nbsp;&nbsp; Type of Reporting Person
(See Instructions) &nbsp;&nbsp;&nbsp;&nbsp; CO,HC

------

CUSIP No. 00437E102

1. &nbsp;&nbsp;&nbsp;&nbsp; Names of Reporting Persons &nbsp;&nbsp;&nbsp;&nbsp; Bellevue Asset Management AG

2. &nbsp;&nbsp;&nbsp;&nbsp; Check the Appropriate Box
if a Member of a Group (See Instructions) &nbsp;&nbsp;&nbsp;&nbsp; (a) ☒ (b) ☐

3. &nbsp;&nbsp;&nbsp;&nbsp; SEC Use Only

4. &nbsp;&nbsp;&nbsp;&nbsp; Citizenship or Place of
Organization &nbsp;&nbsp;&nbsp;&nbsp; Switzerland

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 5. | &nbsp;&nbsp;&nbsp;&nbsp;Sole Voting Power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 6. | &nbsp;&nbsp;&nbsp;&nbsp;Shared Voting Power<br>&nbsp;&nbsp;&nbsp;&nbsp;635,232 |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 7. | &nbsp;&nbsp;&nbsp;&nbsp;Sole Dispositive Power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 8. | &nbsp;&nbsp;&nbsp;&nbsp;Shared Dispositive Power<br>&nbsp;&nbsp;&nbsp;&nbsp;635,232 |

---

9. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate Amount Beneficially Owned by Each Reporting Person &nbsp;&nbsp;&nbsp;&nbsp; 3,677,277

10. &nbsp;&nbsp;&nbsp;&nbsp; Check if the Aggregate
Amount in Row (9) Excludes Certain Shares &nbsp;&nbsp;&nbsp;&nbsp; ☐

11. &nbsp;&nbsp;&nbsp;&nbsp; Percent of Class
Represented by amount in Row (9) &nbsp;&nbsp;&nbsp;&nbsp; 0.9%

12. &nbsp;&nbsp;&nbsp;&nbsp; Type of Reporting Person
(See Instructions) &nbsp;&nbsp;&nbsp;&nbsp; CO, HC, FI

------

CUSIP No. 00437E102

1. &nbsp;&nbsp;&nbsp;&nbsp; Names of Reporting Persons &nbsp;&nbsp;&nbsp;&nbsp; Bellevue Asset Management (UK) Ltd.

2. &nbsp;&nbsp;&nbsp;&nbsp; Check the Appropriate Box
if a Member of a Group (See Instructions) &nbsp;&nbsp;&nbsp;&nbsp; (a) ☒ (b) ☐

3. &nbsp;&nbsp;&nbsp;&nbsp; SEC Use Only

4. &nbsp;&nbsp;&nbsp;&nbsp; Citizenship or Place of
Organization &nbsp;&nbsp;&nbsp;&nbsp; England and
Wales

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 5. | &nbsp;&nbsp;&nbsp;&nbsp;Sole Voting Power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 6. | &nbsp;&nbsp;&nbsp;&nbsp;Shared Voting Power<br>&nbsp;&nbsp;&nbsp;&nbsp;3,042,045 |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 7. | &nbsp;&nbsp;&nbsp;&nbsp;Sole Dispositive Power<br>&nbsp;&nbsp;&nbsp;&nbsp;0 |
| &nbsp;&nbsp;&nbsp; Number of<br> Shares<br> Beneficially <br> Owned by<br> Each<br> Reporting<br> Person<br> with: | 8. | &nbsp;&nbsp;&nbsp;&nbsp;Shared Dispositive Power<br>&nbsp;&nbsp;&nbsp;&nbsp;3,042,045 |

---

9. &nbsp;&nbsp;&nbsp;&nbsp; Aggregate Amount Beneficially Owned by Each Reporting Person &nbsp;&nbsp;&nbsp;&nbsp; 3,677,277

10. &nbsp;&nbsp;&nbsp;&nbsp; Check if the Aggregate
Amount in Row (9) Excludes Certain Shares &nbsp;&nbsp;&nbsp;&nbsp; ☐

11. &nbsp;&nbsp;&nbsp;&nbsp; Percent of Class
Represented by amount in Row (9) &nbsp;&nbsp;&nbsp;&nbsp; 4.2%

12. &nbsp;&nbsp;&nbsp;&nbsp; Type of Reporting Person
(See Instructions) &nbsp;&nbsp;&nbsp;&nbsp; FI

------

**Item 1** 

---

| | |
|:---|:---|
| **1(a)** | **Name of Issuer:** Accolade, Inc.  |

---

---

| | |
|:---|:---|
| **1(b)** | **Address of Issuer's Principal Executive Offices:**  |

---

1201 Third Avenue, Suite 1700, Seattle, Washington 98101

**Item 2** 

**2(a) Name of Person Filing:** Bellevue Group AG ("Bellevue Group") on behalf of its wholly-owned subsidiaries, Bellevue Asset Management (UK) Ltd. ("BAM UK") and Bellevue Asset Management AG ("BAM").<u> </u>

---

| | |
|:---|:---|
| **2(b)** | **Address of Principal Business Office or, if none, Residence:**  |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bellevue Group: | Seestrasse 16, Kuesnacht, Switzerland, CH-8700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BAM: | Seestrasse 16, Kuesnacht, Switzerland, CH-8700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BAM UK: | 32 London Bridge Street, 24th Floor, London, England SE1 9SG |

---

---

| | |
|:---|:---|
|  **2(c) Citizenship:** | Bellevue Group AG: Switzerland |
|  | Bellevue Asset Management AG: Switzerland<br>Bellevue Asset Management (UK) Ltd.: England and Wales |

---

**2(d) Title of Class of Securities** Common Stock

**2(e) CUSIP Number** 00437E102

**Item 3** 

**If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. ☐ Broker or Dealer registered under Section 15 of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. ☐ Bank as defined in Section 3(a)(6) of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. ☐ Insurance company as defined in Section 3(a)(19) of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. ☐ Investment company registered under section 8 of the Investment Company Act of 1940.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. ☐ An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. ☐ An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. ☒ A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. ☐ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. ☐ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. ☒ A non-U.S. institution that is the functional equivalent of any of the institutions listed in Rule 13d-1(b)(1)(ii)(A) through (I), so long as the non-U.S. institution is subject to a regulatory scheme that is substantially comparable to the regulatory scheme applicable to the equivalent U.S. institution; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. ☐ Group, in accordance with Rule 13d-1(b)(1)(ii)(K).

If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: BAM UK is an investment manager regulated by the Financial Conduct Authority of the United Kingdom. BAM is an investment manager regulated by the Swiss Financial Market Supervisory Authority.

**Item 4. Ownership** 

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Amount beneficially owned: <u>3,168,448</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Percent of class: <u>5.1%</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Number of shares as to which the person has:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Sole power to vote or to direct the vote <u>0</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Shared power to vote or to direct the vote <u>3,168,448</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Sole power to dispose or to direct the disposition of <u>0</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Shared power to dispose or to direct the disposition of <u>3,168,448</u> 

**Item 5. Ownership of Five Percent or Less of a Class** 

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: ☐

**Item 6. Ownership of More than Five Percent on Behalf of Another Person.** 

N/A

**Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.** 

This statement is filed jointly by Bellevue Group, BAM and BAM UK. BAM UK is a wholly-owned subsidiary of BAM. Each of BAM UK and BAM is a wholly-owned subsidiary of Bellevue Group.

**Item 8. Identification and Classification of Members of the Group** 

N/A

------

**Item 9. Notice of Dissolution of Group** 

**N/A** 

**Item 10. Certification** 

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

By signing below I also certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to investment advisers and investment companies is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

------

**SIGNATURES** 

After reasonable inquiry and the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**<u>Bellevue Group AG</u>**

---

| | | |
|:---|:---|:---|
| Date: **<u>February 14, 2023</u>** | By: | /s/ Michael Hutter  |
|  |  | Signatory Authority |
|  | Name: | **Michael Hutter** |
|  | Title: | **Chief Financial Officer** |
| Date: <u>**February 14, 2023**</u> | By: | /s/ Christoph Eisenring |
|  |  | Signatory Authority |
|  | Name: | **Christoph Eisenring** |
|  | Title: | **Head Legal & Compliance** |

---

**<u>Bellevue Asset Management AG</u>**

---

| | | |
|:---|:---|:---|
| Date: **<u>February 14, 2023</u>** | By: | /s/ Martin Gubler |
|  |  | Signatory Authority |
|  | Name: | **Martin Gubler** |
|  | Title: | **Chief Financial Officer** |
| Date: **<u>February 14, 2023</u>** | By: | /s/ Christoph Eisenring |
|  |  | Signatory Authority |
|  | Name: | **Christoph Eisenring** |
|  | Title: | **Head Legal & Compliance** |

---

------

---

| | | |
|:---|:---|:---|
| **<u>Bellevue Asset Management (UK) Ltd.</u>** |  |  |
| Date: **<u>February</u> <u>14, 2023</u>** | By: | /s/ Martin Gubler |
|  |  | Signatory Authority |
|  | Name: | **Martin Gubler** |
|  | Title: | **Director** |

---

## Ex-99.A

**<u>Exhibit A</u>**

**Joint Filing Statement** 

We, the undersigned, hereby express our agreement that the attached Schedule 13G (including all amendments thereto) is filed on behalf of each of the undersigned.

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| | | |
|:---|:---|:---|
| **<u>Bellevue Group AG</u>** |  |  |
| Date: **<u>February 14, 2023</u>** | By: | /s/ Michael Hutter |
|  |  | Signatory Authority |
|  | Name: | **Michael Hutter** |
|  | Title: | **Chief Financial Officer** |
| Date: **<u>February 14, 2023</u>** | By: | /s/ Christoph Eisenring |
|  |  | Signatory Authority |
|  | Name: | **Christoph Eisenring** |
|  | Title: | **Head Legal & Compliance** |
| **<u>Bellevue Asset Management AG</u>** |  |  |
| Date: **<u>February 14, 2023</u>** | By: | /s/ Martin Gubler |
|  |  | Signatory Authority |
|  | Name: | **Martin Gubler** |
|  | Title: | **Chief Financial Officer** |
| Date: **<u>February 14, 2023</u>** | By: | /s/ Christoph Eisenring |
|  |  | Signatory Authority |
|  | Name: | **Christoph Eisenring** |
|  | Title: | **Head Legal & Compliance** |

---

------

---

| | | |
|:---|:---|:---|
| **<u>Bellevue Asset Management (UK) Ltd.</u>** |  |  |
| Date: **<u>February 14, 2023</u>** | By: | /s/ Martin Gubler |
|  |  | Signatory Authority |
|  | Name: | **Martin Gubler** |
|  | Title: | **Director** |

---