Mubadala announces strategic investment in Zelis

Mubadala Investment Company, the Abu Dhabi-based investment company, announced its agreement to purchase a minority stake in Zelis, a leading provider of healthcare technology solutions in the United States.

Mubadala Investment Company is the lead investor, alongside a group of investors including Norwest and HarbourVest.

Parthenon and Bain Capital remain the majority owners of Zelis.

“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,” 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,” continued Hamoodi. “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 is uniquely aligning the interests of payers, providers, and members in a way that reduces cost and improves care outcomes,” said Amanda Eisel, Chief Executive Officer at Zelis. “I look forward to working with Mubadala and other new investors as we continue to make a positive impact on US healthcare and enable care to flow more seamlessly.”

Zelis is modernising the healthcare financial experience by providing a connected platform that bridges the gaps and aligns interests across payers, providers, and healthcare consumers.

This platform serves more than 750 payers, including the top five national health plans, BCBS insurers, regional health plans, TPAs and self-insured employers, and millions of healthcare providers and consumers.

Zelis sees across the system to identify, optimise, and solve problems holistically with technology built by healthcare experts – driving real, measurable results for clients.

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

Evercore served as financial advisor and Akin Gump Strauss Hauer & Feld LLP acted as legal counsel to Mubadala. The transaction closed on 26th November 2024.