Alexandria software company acquired by Massachusetts firm
HealthEdge Software Inc. acquires The Burgess Group LLC
Burlington, Massachusetts-based software company HealthEdge Software Inc. announced Wednesday it has acquired Alexandria-based software company The Burgess Group LLC.
A transaction amount was not disclosed. The acquisition follows a majority stake investment in HealthEdge by funds managed by Blackstone Growth.
“The acquisition of Burgess is a great strategic fit for HealthEdge to enter the large, high-growth market of payment integrity, helping address the estimated $1 trillion in wasteful spending in the U.S. healthcare system,” Ram Jagannath, global head of health care for Blackstone Growth and chairman of HealthEdge, said in a statement. “This partnership will extend HealthEdge’s best-in-class claims processing to include software-driven payment integrity, actioned before a claim is paid, delivering significant value to health plans beyond what is available in the market today.”
HealthEdge develops software for health insurers, while The Burgess Group develops software that ensures payment integrity for health care claims.
“Working together we will accelerate our shared vision to challenge the inefficient status quo in claims administration,” Burgess Group Founder Greg Burgess said in a statement. “As one combined company, we can offer our existing complementary solutions while we collaborate to introduce another industry first: an end-to-end unified claims processing, payment integrity and adjudication platform capable of delivering first-pass payment accuracy to providers.”
Seabrook Partners served as the financial adviser to The Burgess Group in the transaction.