HealthEdge delivers mission-critical Core Administrative Processing Systems (CAPS) to health payors, helping administer benefits, configure plans, manage providers and enroll participants. Its enterprise solution suite, HealthRules®, is built on modern, patented technology and is delivered via the HealthEdge Cloud or as an onsite deployment. The company is led by CEO Steve Krupa. Funds managed by Blackstone will acquire a majority stake, and the company said it will use the proceeds to accelerate the continued expansion of its business. No operating metrics or revenue figures were disclosed in the article. HealthEdge Software provides technology products to the health insurance market, most notably HealthRules®, an enterprise solution suite built on patented technology. HealthRules is delivered to customers via the HealthEdge Cloud or as an onsite deployment. The company serves health insurers and is majority backed by Psilos Group Managers, LLC. Steve Krupa is the company's CEO. HealthEdge received a venture loan facility from Horizon Technology Finance; the amount was not disclosed. The company said it will use the funds for general working capital purposes. HealthEdge develops HealthRules, a software suite that integrates financial, administrative and clinical functions for healthcare payers. The company purchased Click4Care in late 2012, combining ThinkHealth’s predictive modeling and care-management capabilities with HealthEdge’s payer-focused platform. HealthEdge was founded in November 2004 and is based in Burlington, Massachusetts. Financially, the company has a mix of equity and debt financing: it recently closed a $30 million venture financing and previously refinanced its credit facility with a $17.5 million term loan from 5th Street Finance Corp and an undisclosed revolving loan from Silicon Valley Bank. Prior equity rounds cited in filings include a $13 million round led by Psilos Group Managers in April 2007 and $3.5 million rounds in July 2009 and June 2010. The company has not specified how it will deploy the new $30 million round, though recent industry events are noted as likely influences on strategy. HealthEdge provides an integrated financial, administrative and clinical platform for healthcare payors. Its next-generation product suite, HealthRules, is built on patented technology and is delivered via the HealthEdge Cloud or on-site deployment. The company says a growing number of payors are selecting HealthRules to reduce costs, engage members, improve transparency and quality of care, and support new business models and regulatory compliance. HealthEdge is a portfolio company of Psilos Group Managers and is based in Burlington, MA. Management stated the new financing will be used to accelerate the company’s position as the choice for healthcare payors and to drive innovation and cost reductions. The company is described as award-winning and focused on enabling payors to capitalize on opportunities in the evolving healthcare economy. HealthEdge Software, based in Burlington, develops software for healthcare payors. Its primary product, HealthRules, is a suite offering claims and benefit administration, business intelligence and portal solutions. The company built HealthRules on technology acquired from DeNovis Inc., paying more than $100 million for that technology. DeNovis went bankrupt in 2004 after burning through $125 million in VC backing, which is part of HealthEdge’s technology lineage. Financially, HealthEdge recently raised $3.5 million from eight unnamed investors in an offering composed of debt, warrants and options and has raised $7 million since last year across two offerings. In April 2008 the company also announced a $13 million commitment from Psilos Group.

Total raised

$48M

Funding rounds

5

Latest round

Equity

Latest activity

Oct 2014