Mubadala Said Near Deal to Buy Stake in Health Tech Firm Zelis

Mubadala Investment Co.is nearing a deal to acquire a minority stake in Zelis that values the health-care technology company at about $17 billion, people with knowledge of the matter said.

The Abu Dhabi wealth fund is putting the final touches on a deal with Zelis’s owners, Bain Capital and Parthenon Capital, according to the people.

Bloomberg News reported in September that Bain and Parthenon were in talks to sell a 20% to 25% stake in the company.

While talks with Mubadala are advanced they could still be delayed or falter, the people said, asking not to be identified ...