Bedminster, NJ – Zelis, a leading healthcare payments and pricing company, announced today the completion of its previously announced acquisition of Payer Compass, one of the healthcare industry’s leading providers of reimbursement and claims pricing, administration, and processing solutions.
For more than 20 years, Payer Compass has provided data and insights to reprice more than $200 billion in claims, generate more than $1.5 billion in annual savings and serve more than 10 million lives. The acquisition will enable Zelis to evolve and expand our best-in-class solutions for out-of-network healthcare services for clients.
“We’re thrilled to complete the acquisition of Payer Compass and join our organizations," said Amanda Eisel, CEO of Zelis. “Zelis is on a mission to create a better healthcare financial experience for all, and the powerful combination of our technology and teams advances us in achieving that aim.”
Jay Deady, President of Claims Cost Solutions at Zelis, remarked, “Together, as one company, we will deliver advanced claims management solutions and make a greater impact on healthcare’s complexity and rising costs, supporting payers, providers, and members.”
Greg Everett, CEO of Payer Compass added, “We’re excited to join Zelis and expand our reach and service to healthcare payers and their members. This is an opportunity to increase price rationality in healthcare.”
Spectrum Equity, a leading growth equity firm, and Health Enterprise Partners, a healthcare-focused investment firm, were investors in Payer Compass. Triple Tree, LLC served as the exclusive financial advisor for this transaction. Payer Compass was represented by Latham & Watkins, LLP and Zelis was represented by Kirkland & Ellis.