By AFP
Dubai: The Abu Dhabi wealth fund Mubadala will purchase a minority stake in Zelis, the US-based healthcare tech company. The deal continues the UAE entity’s expansion of its exposure in healthcare and allied sector entities.
The other investors who got in with Mubadala into Zelis are Norwest and HarbourVest. Parthenon and Bain Capital remain the majority owners in the US firm.
“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,” said Mina Hamoodi, Head of Healthcare Investments at Mubadala.
“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.”
Zelis provides a connected platform that bridges the ‘gaps and aligns interests across payers, providers, and healthcare consumers’.
It serves more than 750 payers, including the top 5 national health plans, BCBS insurers, regional health plans, TPAs and self-insured employers in the US, apart from ‘millions of healthcare providers and consumers’.
“Zelis is uniquely aligning the interests of payers, providers, and members in a way that reduces cost and improves care outcomes,” says Amanda Eisel, CEO of the firm.
