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Mubadala-led group buys stake in US company Zelis

By Pramod Kumar
Zelis' platform serves more than 750 payers, including the top five national health plans in the US Zelis/X
Zelis' platform serves more than 750 payers, including the top five national health plans in the US

A consortium led by Abu Dhabi’s Mubadala Investment Company is to acquire a minority stake in Zelis, a US-based financial technology company.  

The other partners are Norwest and HarbourVest. Parthenon and Bain Capital remain the majority owners in Zelis.

Zelis is helping to streamline the US healthcare financial experience, which is complex and needs technology-driven solutions, said Mina Hamoodi, head of healthcare investments at Mubadala.  

No financial details were disclosed.

The US company reported double-digit growth rates in its top and bottom lines. The platform serves more than 750 payers, including the top five national health plans, BCBS insurers, and regional health plans in the US.

In October, Mubadala’s newly acquired subsidiary, Kelix Bio, bought four pharma assets from Yas Holdings’ healthcare unit, GlobalOne Healthcare Holdings. 

The Abu Dhabi wealth fund invested in Manipal Health Enterprises, India’s second-largest hospital chain by number of beds, in February.

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