emirates7 - Mubadala Investment Company, an investment firm based in Abu Dhabi, has announced its acquisition of a minority stake in Zelis, a prominent provider of healthcare technology solutions in the United States.
Mubadala led the investment alongside a consortium that included Norwest and HarbourVest. Despite the new investment, Parthenon and Bain Capital remain Zelis' majority shareholders.
“We are thrilled to invest in Zelis, a company that stands out for its innovative and integrated approach to healthcare payments,” said Mina Hamoodi, Head of Healthcare Investments at Mubadala. “Zelis is simplifying the complex U.S. healthcare financial system by leveraging technology to improve efficiency and outcomes for all stakeholders involved in the care process. This marks our largest healthcare investment to date and our first major foray into the payer and provider technology sector, which is a key focus within healthcare IT. We are excited to collaborate with Zelis’ exceptional management team, as well as Parthenon and Bain Capital, to support the company's ongoing success.”
Zelis CEO Amanda Eisel expressed enthusiasm about the partnership, stating, “Zelis is uniquely positioned to align the interests of payers, providers, and members, effectively reducing costs and improving care outcomes. We welcome Mubadala and our new investors as we continue to make a meaningful impact on U.S. healthcare by enabling a more seamless flow of care.”
Zelis operates a connected platform designed to modernize the financial experience in healthcare. The platform integrates payers, providers, and consumers, serving over 750 payers—including the five largest national health plans, BCBS insurers, regional health plans, TPAs, and self-insured employers—along with millions of healthcare providers and patients. Using technology developed by healthcare experts, Zelis addresses systemic inefficiencies to deliver measurable results for its clients.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC acted as financial advisors, and Kirkland & Ellis LLP provided legal counsel to Zelis. Mubadala was advised by Evercore as financial advisor and Akin Gump Strauss Hauer & Feld LLP as legal counsel. The transaction was finalized on November 26, 2024.
Mubadala led the investment alongside a consortium that included Norwest and HarbourVest. Despite the new investment, Parthenon and Bain Capital remain Zelis' majority shareholders.
“We are thrilled to invest in Zelis, a company that stands out for its innovative and integrated approach to healthcare payments,” said Mina Hamoodi, Head of Healthcare Investments at Mubadala. “Zelis is simplifying the complex U.S. healthcare financial system by leveraging technology to improve efficiency and outcomes for all stakeholders involved in the care process. This marks our largest healthcare investment to date and our first major foray into the payer and provider technology sector, which is a key focus within healthcare IT. We are excited to collaborate with Zelis’ exceptional management team, as well as Parthenon and Bain Capital, to support the company's ongoing success.”
Zelis CEO Amanda Eisel expressed enthusiasm about the partnership, stating, “Zelis is uniquely positioned to align the interests of payers, providers, and members, effectively reducing costs and improving care outcomes. We welcome Mubadala and our new investors as we continue to make a meaningful impact on U.S. healthcare by enabling a more seamless flow of care.”
Zelis operates a connected platform designed to modernize the financial experience in healthcare. The platform integrates payers, providers, and consumers, serving over 750 payers—including the five largest national health plans, BCBS insurers, regional health plans, TPAs, and self-insured employers—along with millions of healthcare providers and patients. Using technology developed by healthcare experts, Zelis addresses systemic inefficiencies to deliver measurable results for its clients.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC acted as financial advisors, and Kirkland & Ellis LLP provided legal counsel to Zelis. Mubadala was advised by Evercore as financial advisor and Akin Gump Strauss Hauer & Feld LLP as legal counsel. The transaction was finalized on November 26, 2024.