"Mubadala" approaches the acquisition of a minority interest in "Zells" for health technology

Mubadala Investment Company is close to the conclusion of an agreement to acquire a minority interest in Zelis, which, according to people who are familiar with the case, at $ 17 billion. The sovereign fund for the emirate of Abu Dhabi holds the final attack on the agreement with the two companies owned by ‘Zelas’, ‘Pine Capital’ and ‘Parthenon Capital’. ‘Mubadala’ agreed to lead what is known as a restoration of a minority interest in the company ‘Zelas’, according to one of the sources. The source indicated that other participants would be brought in the coming weeks. Bloomberg reported in September that “Payne” and “Partenon” had talks to sell a share of 20% and 25% of “Zelas”. The well -known people indicated that the conversations with “Mubadala” entered an advanced stage, but that they were late or stumbling because they asked not to reveal their identity because the information was confidential. Payne and ‘Mubadala’ representatives refused to comment, while ‘Barthinon’ spokesman and ‘Zelas’ could not respond immediately. Zelas operates a platform that helps digitize payments in the healthcare sector, where billions of dollars are still paid by paper investigations. The company works with hundreds of health authorities to manage claims, negotiate with service providers and make costs. In 2019, Payne invested in integrating the two health payment technology “Zilis Health” and Red Card Systems, backed by “Parthenon”.