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Mergers & Acquisitions

Blackstone-Backed HealthEdge Adds Burgess

Published: July 23rd, 2020
HealthEdge’s acquisition of the payment integrity software company comes after HealthEdge became a Blackstone portfolio company in April.

HealthEdge Software Inc. has sealed its first acquisition under Blackstone Group Inc.’s (BX) ownership, announcing Tuesday, July 21, its purchase of The Burgess Group LLC.

Alexandria, Va.-based Burgess is a payment integrity software company with a focus on improving healthcare payment operations.

“The acquisition of Burgess is a great strategic fit for HealthEdge to enter the large, high-growth market of payment integrity, helping address the estimated $1 trillion in wasteful spending in the U.S. healthcare system,” said Ram Jagannath, global head of healthcare at Blackstone Growth and chairman of HealthEdge, in the news release.

Burlington, Mass.-based HealthEdge provides health insurers with software for claims and benefit administration, as well as care management, among others.

Blackstone acquired a majority stake in HealthEdge in a deal announced in March and completed in April. Blackstone’s growth equity team led the investment. Terms of the transaction were not disclosed in the announcement, but according to a Wall Street Journal report, the deal gave HealthEdge a valuation of about $700 million, including debt.

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