Bain Capital to Acquire HealthEdge from Blackstone Funds

Blackstone Acquires Majority Stake in HealthEdge Software

April 9, 2020

Cloud & SaaS

Funds managed by Blackstone, led by its growth equity team, have acquired a majority stake in HealthEdge Software, a provider of cloud-native Core Administrative Processing Systems (CAPS) for health payors. Blackstone said it will support HealthEdge’s expansion and product development; terms were not disclosed.

General Atlantic Credit, Blackstone and Morgan Stanley Invest $425M in Buyers Edge Platform

April 8, 2024

Food & Beverage

Buyers Edge Platform secured a $425 million preferred equity investment led by General Atlantic Credit’s Atlantic Park fund, alongside Blackstone Tactical Opportunities and Morgan Stanley Tactical Value. The financing will fund platform innovation, strategic M&A and European expansion; institutional investor Bregal Sagemount will exit its minority stake while founder John Davie increases his majority ownership.

Bain Capital Acquires UST HealthProof and Merges it with HealthEdge

September 4, 2025

Cloud & SaaS

Bain Capital acquired UST HealthProof from UST and completed a merger with HealthEdge to form a combined, AI-powered payer technology and services company that will operate as HealthEdge and is headquartered in Boston. Financial terms were not disclosed; the combined company will offer an end-to-end, cloud-based claims platform and tech-enabled services for health plans, reaching over 110 million lives.

Bain Capital Private Equity Takes Majority Stake in InnovaCare Health

November 19, 2021

Healthcare Services

Bain Capital Private Equity has signed a definitive agreement to acquire a majority stake in InnovaCare Health, a regional leader in integrated and value-based healthcare services. The investment will support InnovaCare's national expansion and accelerate growth of its physician-led, value-based care model; Summit Partners will remain an equity holder and management will retain significant ownership.

HealthEdge Acquires Wellframe

December 7, 2021

Cloud & SaaS

HealthEdge Software has completed the acquisition of Wellframe, a digital health management and member engagement platform. The deal adds Wellframe's consumer-facing mobile app and digital care management capabilities to HealthEdge's SaaS suite; new investors including Coatue, HLM Venture Partners, and BlueCross BlueShield Venture Fund joined as part of the transaction.

HealthEdge Acquires Altruista Health from Martis Capital

December 29, 2020

Cloud & SaaS

HealthEdge Software, a Blackstone-backed payor technology provider, has completed the acquisition of Altruista Health, a Reston-based care management and population health SaaS platform. The deal, sold by Martis Capital, integrates Altruista's GuidingCare platform with HealthEdge's HealthRules Payor to expand capabilities across claims adjudication, payment integrity and care management; terms were not disclosed.