Mubadala announces Invests Strategically in Zelis

Mubadala Acquires Minority Stake in US Healthcare Tech Leader Zelis

Abu Dhabi – Mubadala Investment Company, an Abu Dhabi-based investment firm, has announced an agreement to acquire a minority stake in Zelis, a leading US healthcare technology solutions provider.

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

Zelis’ majority owners are Parthenon and Bain Capital.

“We are pleased to announce our investment in Zelis, a company that differentiates itself from its peers with its thoughtful and integrated approach to healthcare payments. Zelis is helping to streamline the US healthcare finance experience, which requires sophisticated, technology-driven solutions that unlock efficiencies and create better outcomes for everyone involved in the care journey,” said Mina Hamoudi, Head of Healthcare Investments at Mubadala.

“This is the largest investment we have ever made in healthcare, and our first meaningful venture into healthcare IT, our priority sub-sector, where payers and provider technology are key,” Hamoodi continued. “We look forward to working with Parthenon and Bain Capital, as well as strong management teams in healthcare, to contribute to Zelis’ continued success.”

“Zelis uniquely aligns the interests of payers, providers and members to drive cost reductions and improve care outcomes,” said Zelis CEO Amanda Easel. “I look forward to working with Mubadala and other new investors as we continue to make a positive impact on healthcare in the United States.”

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

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

Zelis looks across the system to identify, improve, and resolve issues through technology built by healthcare professionals – delivering real, measurable results for clients.

Goldman Sachs & Co. LLC and JPMorgan Securities LLC served as financial advisors and Kirkland & Ellis LLP served as legal counsel to Zelis.

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