HealthEdge® provides modern, disruptive healthcare IT solutions that health insurers use to leverage new business models, improve outcomes, drastically reduce administrative costs and connect everyone in the healthcare delivery cycle. The company’s next-generation enterprise solution suite, HealthRules®, is built on modern, patented technology and is delivered to customers via the HealthEdge Cloud or onsite deployment.
Blackstone (NYSE: BX) reported the intent to acquire a majority stake in HealthEdge. The acquisition is being pushed by Blackstone’s growth equity segment that focuses on providing capital to fast growing companies and help leverage Blackstone’s resources and scale to become market leads.
Steve Krupa, CEO of HealthEdge, said: “We are thrilled to work with Blackstone as we enter the next chapter of our company’s growth. Blackstone’s expertise in healthcare and extensive operational resources made them our partner of choice to help fuel our continued expansion and better serve our customers in the years ahead. We are deeply grateful to our employees, for all of their hard work and dedication; our customers for their loyalty and ongoing partnership; and our Chairman, Al Waxman, and his venture fund Psilos Group, for supporting our company from the very start. These stakeholders put us in the position for this transformative growth opportunity.”
Ram Jagannath, Global Head of Healthcare for Blackstone Growth, said: “We are excited to partner with Steve and HealthEdge’s outstanding management team as they continue to build a premier, comprehensive platform for healthcare payor technology. The company has a leading, innovative product that their customers find highly compelling in helping them manage an increasingly complex healthcare ecosystem. Together with Blackstone, HealthEdge is exceptionally well positioned for continued growth as an increasing number of healthcare companies seek superior, cloud-native technology solutions for administering their businesses.”