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Zelis Closes Merger with RedCard to Form Healthcare Payments Optimisation Platform
Tuesday 08 October 2019

8 October 2019 - New Jersey, US-based healthcare technology company Zelis Healthcare has closed its merger with St. Louis, US-based healthcare payments and communications provider RedCard Systems to create a healthcare payments optimisation platform, the company said.

The transaction is being supported by Parthenon Capital, a growth-oriented private equity firm and an existing investor in both Zelis and RedCard, and Bain Capital Private Equity and Bain Capital Ventures. The existing shareholders of Zelis and RedCard, including management and founding shareholders, will retain significant ownership positions in the new company.

Terms of the transaction were not disclosed.

According to the companies, the combination of Zelis and RedCard will create the healthcare industry's first payments optimisation platform with market-leading technology and solutions to price claims, pay claims and explain claims, all at enterprise scale on a claim-by-claim basis.

The strategic combination of the two technology companies creates a differentiated leader with end-to-end capability across the healthcare payments ecosystem, encompassing claim cost management and payments solutions.

Zelis Healthcare is a provider of integrated healthcare cost management and payments solutions including network analytics, network access, network cost management, payment integrity and electronic payments, serving payers, healthcare providers and consumers in the medical, dental and workers' compensation markets nationwide.

RedCard Systems is a provider of healthcare payments and communications optimisation. RedCard's gateway technology drives effective communications between healthcare payers, providers and consumers, delivering mission critical claims, payments, benefits and individual financial responsibility information via secure communication modalities.
Details
Date Published: 08/10/2019
Target: RedCard Systems
Country: USA
Sector: Healthcare
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Zelis Healthcare
Comment:
Terms of the deal were not disclosed

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