"swap" Announces a strategic investment in Zelis

2024/12/05 10:32:53 AM

2 minutes read

ABU DHABI, 5 DECEMBER WAM / Mubadala Investment Company, the sovereign investment company in Abu Dhabi, announced that it has reached an agreement to purchase a minority stake in Zelis, a provider of technological solutions for the healthcare sector, in the United States of America.

Mubadala is the lead investor, along with a group of investors including Norwest and HarbourVest.

Parthenon and Bain Capital will remain the company’s primary owners.

Mina Hamoudi, Head of the Healthcare Investments Unit at Mubadala, said that Zelis provides integrated solutions to issues related to payment systems in the healthcare sector, contributing to simplifying complex financial procedures in the healthcare sector in the United States, through technical solutions that allow for increased efficiency and improved results for all. Parties involved in the care journey.

She added that this is Mubadala’s largest investment in the healthcare sector, and its first important step in the field of technology that serves providers and recipients of health services, and it is one of Mubadala’s priority sub-sectors in the field of information technology in the healthcare sector, expressing her aspiration to cooperate with one of the most distinguished. Management teams in the healthcare sector, along with Parthenon and Bain Capital, contribute to Zyles’ continued success.

For her part, Amanda Issel, CEO of Zelis, said that Zelis has a unique ability to serve the interests of payers, health care providers and members, in a way that reduces costs and improves health care outcomes.

She expressed her aspiration to work with Mubadala and other new investors in efforts to make a positive impact on the American healthcare system and enhance the efficiency of the healthcare system.

Zelis works to modernize financial systems in the healthcare sector, by providing an integrated platform that bridges the gaps and takes into account the interests of payers, service providers and consumers in the healthcare sector.

This platform serves more than 750 payers, including the top 5 national health programs, BCBS insurers, regional health programs, third-party administration companies (TPAs), and self-insured employers, as well as millions of providers and consumers across the world. Health care sector.

Zelis has a comprehensive vision that enables it to identify problems, address them, improve performance and provide comprehensive solutions using technologies designed by experts in the field of healthcare – and achieve tangible results for its clients.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC served as financial advisors to Zelis, while Kirkland & Ellis LLP provided legal counsel.

On the other hand, Evercore served as the financial advisor, and Akin Gump Strauss Hauer & Feld LLP served as the legal advisor to Mubadala. The transaction closed on November 26, 2024.