Blackstone-backed HealthEdge acquires The Burgess Group
HealthEdge, the provider of HealthRules Payor,van integrated financial, administrative and clinical platform for health insurers, has completed the acquisition of The Burgess Group (Burgess), a payment integrity software company focused on improving healthcare payment operations through technology.
Health plan customers will now benefit from claims cost savings via the Burgess Source platform’s ability to identify and reduce wasteful spending in the US healthcare system.
“We are really excited about the future of HealthEdge,” says Steve Krupa, CEO of HealthEdge. “Our company’s growth and maturation, coupled with strategic and capital support from our investors, have enabled us to take a significant step toward creating a fully automated cloud-based transactional system for health plans by partnering with Greg Burgess and his team.”
“The Burgess Group team is hitting the ground running with HealthEdge,” says Greg Burgess, Founder and President. “Driving solutions in the payment integrity arena has been our heart and soul for nearly 25 years. Together with HealthEdge, we will maximise efficiencies through our collective experience and ultimately create win-win scenarios for health plans, patients and participating providers.”
The Burgess acquisition follows the purchase of a majority stake in HealthEdge by funds managed by Blackstone in April 2020.
Ram Jagannath, Global Head of Healthcare for Blackstone Growth and Chairman of HealthEdge, says: “We are excited to back HealthEdge as a leading next-generation payor software company and we see HealthEdge as a platform for further strategic acquisitions. HealthEdge’s acquisition of Burgess provides a critical adjacency in payment integrity software to further strengthen our value proposition to health plan customers.”
TripleTree, LLC served as financial advisor and Debevoise & Plimpton LLP was legal advisor to HealthEdge and Blackstone. Seabrook Partners, LLC served as financial advisor and Vedder Price was legal advisor to Burgess. Terms of the transaction have not been disclosed.