HealthEdge Software, Inc., a provider of next-gen integrated services suite for health insurers and portfolio company of Blackstone, has purchased Wellframe Inc., a digital health management platform. As part of the deal, Coatue, HLM Venture Partners, and BlueCross BlueShield Venture Fund join as new investors.
The acquisition is part of HealthEdge’s entrance into digital health management and consumer engagement. The Wellframe services offer personalized content and facilitate connectivity between health staff and consumers. This is the third acquisition made by HealthEdge in the past 20 months.
“The Wellframe transaction cements HealthEdge’s position as the go-to resource for critical payer business issues,” said Ram Jagannath, global head of healthcare for Blackstone. “HealthEdge’s end-to-end SaaS solution suite spans four synergistic core market segments, including core administrative processing, payment integrity, care management and digital health management.”
“I anticipate the opportunity to further advance our footprint as a strategic partner to health plans looking to digitally modernize member services and experience, in collaboration with the broader HealthEdge team and family of solutions,” added Jake Sattelmair, Wellframe co-founder and CEO.
TripleTree, LLC served as financial advisor and Debevoise & Plimpton LLP was legal advisor to HealthEdge and Blackstone. Centerview Partners LP, served as financial advisor and Goodwin Procter LLP was legal advisor to Wellframe.