HealthEdge Secures Strategic Investment from Bain Capital
BURLINGTON, Mass. – April 8, 2025 – HealthEdge, a leader in healthcare technology solutions, today announced that it has entered into a definitive agreement to be acquired by Bain Capital. The investment is being made by Bain Capital’s Private Equity team. Financial terms of the private purchase from funds managed by Blackstone were not disclosed.
Founded in 2005, and headquartered in Burlington, Massachusetts, HealthEdge is a next-generation SaaS platform that connects health plans, providers, and patients with a suite of end-to-end digital solutions to automate operations, reduce administrative costs and improve overall health outcomes. HealthEdge currently serves over 115 health plans representing more than 110 million covered member lives across the U.S. Its best-in-class solutions and administrative processing systems have earned the Company repeated recognition from leading market analysts.
“We are pleased to welcome Bain Capital as our new partner as we embark on our next chapter of growth and innovation,” said Steve Krupa, CEO of HealthEdge. “We believe we are well-positioned to achieve our vision of being the long-term partner of choice for health plans as we continue to create deeper integrations between our solutions, which support health plans through claims processing, care management, and member engagement. We are thankful for Blackstone’s support over the last five years and look forward to working with Bain Capital as we remain committed to implementing solutions that will redefine the future of healthcare.”
“HealthEdge is enabling health plans to transition towards a modern tech ecosystem via its cloud-based claims adjudication software and complementary suite of value-added solutions. In a world of growing operational complexity, we believe that HealthEdge can streamline operations, improve care delivery, and increase engagement among healthcare payers, provider, and patients,” said Devin O’Reilly and Paul Moskowitz, Partners at Bain Capital. “The HealthEdge Solutions Suite is a mission-critical system that sits at the heart of the health plan tech stack in one of the most complex HCIT ecosystems we’ve seen. We believe HealthEdge can be a driving force for GenAI enablement at health plans, and we look forward to partnering with the management in the next phase of growth.”
“We are proud to have been part of HealthEdge’s journey over the last five years, partnering with management to evolve the business from an emerging modern software solution for payors to a mission-critical platform of high-value technologies for payors, caregivers, and patients,” said Ram M. Jagannath and Anushka M. Sunder, Senior Managing Directors at Blackstone. “Over the course of our investment, Blackstone partnered with HealthEdge to innovate new solutions, acquire and integrate strategically important software solutions, drive sustained growth, and build a comprehensive technology platform to address challenges across the American healthcare ecosystem. It has been a pleasure driving this phase of the transformation, and we wish Steve, the entire management team, and Bain Capital continued success in driving HealthEdge’s next chapter of strategic growth.”
The transaction is expected to close during the second quarter of 2025, subject to customary closing conditions.
TripleTree is acting as lead financial advisor, Kirkland & Ellis as legal counsel, and Ares Management as lead financing partner to Bain Capital. Evercore and UBS Investment Bank are acting as financial advisors, and Simpson Thacher & Bartlett as legal counsel to Blackstone.
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About HealthEdge
HealthEdge® is building a future without limits for health plans, where they can deliver better service and care, make more informed decisions and streamline operations. Through an integrated platform of solutions for core administration (HealthRules® Payer), payment accuracy (HealthEdge Source™), provider network management (HealthEdge Provider Data Management), care management (GuidingCare®) and member experience (Wellframe™), health plans can converge their data and harness
automation to drive more informed decisions, improve touchless transaction processing and payment accuracy, foster meaningful collaboration and enhance service and care delivery. HealthEdge is trusted by over 115 health plans covering more than 110 million member lives across the U.S. See what it means to converge without limits at HealthEdge.com and follow us on LinkedIn.
About Bain Capital
Founded in 1984, Bain Capital is one of the world’s leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).
About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1.1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries, and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.
