Buyout firm Parthenon Capital is combining health-care technology companies Zelis Healthcare and RedCard, and bringing in Bain Capital as an investor in the combined entity, according to a statement.
Terms of the transaction weren’t disclosed in the statement, which confirmed an earlier Bloomberg News report.
Parthenon will retain a stake in the merged business, which will be led by Zelis Chief Executive Officer Doug Klinger. RedCard Chairman Joe DiMartini and CEO Eric Schaefer will hold senior executive roles.
“The key focus of this combination is to deliver deeper electronic penetration, best-in-class claim cost savings performance and a transformational billing ...
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