Healthcare payments technology leaders Zelis Healthcare, based in Bedminster, and RedCard Systems (“RedCard”) announced the successful completion of their previously announced merger. The combined company provides market-leading technology and solutions to over 700 payers and 600,000+ providers to price claims, pay claims and explain claims, all at enterprise scale on a claim-by-claim basis.
The merger was supported by Parthenon Capital, a growth-oriented private equity firm and an existing investor in both Zelis and RedCard, and by Bain Capital Private Equity and Bain Capital Ventures. Financial terms of the private transaction were not disclosed.
Goldman Sachs served as financial advisor to Zelis and RedCard. Deutsche Bank served as financial advisor to Bain Capital. Kirkland & Ellis served as transaction counsel to Zelis and RedCard. Ropes & Gray served as legal counsel to Bain Capital.
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