Mubadala Investment Company, based in Abu Dhabi, has acquired a minority stake in Zelis, a US healthcare technology solutions provider. Mubadala leads a group of investors that includes Norwest and HarbourVest, while Parthenon and Bain Capital remain majority owners.
Mina Hamoodi, Head of Healthcare Investments at Mubadala, stated, “We are delighted to announce our investment in Zelis, a company whose thoughtful and integrated approach to healthcare payments sets it apart from its peers. Zelis is helping to streamline the US healthcare financial experience, which is complex and in need of technology-driven solutions that can unlock efficiencies and create better outcomes for everyone engaged in the care journey.”
“This is the largest investment that we have made in the healthcare space and our first meaningful venture into payer and provider tech, priority sub-sectors for us within healthcare IT,” Hamoodi added. “We look forward to partnering with one of the strongest management teams in healthcare, alongside Parthenon and Bain Capital, and contributing to Zelis’ continued success.”
Zelis provides a connected platform designed to optimise healthcare financial processes by aligning payers, providers and consumers. The platform is used by over 750 payers, including the top five national health plans, BCBS insurers, regional health plans, TPAs, self-insured employers, and millions of providers and consumers.
The transaction was completed on 26th November 2024.
