Combined Company Offers Market-Leading Technology to Price, Pay and Explain Healthcare Claims.
October 4, 2019 — Bedminister, NJ and St. Louis, MO — Healthcare payments technology leaders Zelis Healthcare (“Zelis”) and RedCard Systems (“RedCard”) today 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.
As a leading healthcare payments company, we price, explain, and pay for care on behalf of insurers and their members. Zelis was founded on a belief that there is a better way to determine the cost of a healthcare claim, manage payment-related data, and make the payment because more affordable and transparent care is good for all of us. We partner with more than 700 payers, including the top-5 national health plans, Blues plans, regional health plans, TPAs and self-insured employers, millions of providers, and one hundred million members, enabling the healthcare industry to pay for care, with care. Zelis brings adaptive technology, a deeply ingrained service culture, and comprehensive solutions to harmonize the complete payment process.Follow us on LinkedInto get the latest news.
RedCard Systems is a leading provider of healthcare payments and communications optimization. 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. RedCard has redefined the way that healthcare communications work, coordinating communication schedules and driving efficiencies within the healthcare payer and provider communication process, while delivering faster, more efficient and effective claims and payment outcomes.
Director of Media Relations for Zelis