Mubadala Nears $17 Billion Stake in Zelis

Mubadala Investment Co. is close to acquiring a minority stake in Zelis, a healthcare technology company, valuing it at approximately $17 billion. This deal, which involves the Abu Dhabi wealth fund anchoring a minority recapitalization, follows reports of Bain Capital and Parthenon Capital seeking to sell a 20% to 25% stake. The transaction is seen as a significant positive development for health tech private equity-led mergers and acquisitions, which have faced challenges in recent years. While the deal is in advanced stages, potential delays or complications remain possible. Zelis operates a platform that modernizes healthcare payments, addressing inefficiencies in the system. Overall, the deal signals a renewed interest in digital health investments amidst a recovering market.