HealthEdge, a portfolio company of The Blackstone Group (NYSE: BX), announced the acquisition of Altruista Health, Inc. for an undisclosed sum. Altruista Health delivers care management and population health management solutions that support value-based care models. Altruista serves approximately 30 customers representing over 16 million members and has developed deep expertise serving complex patient populations across Managed Medicaid and Medicare Advantage plans. Its GuidingCare technology platform integrates care management, care coordination and quality improvement programs through a suite of web applications.
HealthEdge provides healthcare IT solutions that health insurers use to leverage new business models, improve outcomes, drastically reduce administrative costs, and connect everyone in the healthcare delivery cycle.
Altruista is HealthEdge’s second significant and highly synergistic acquisition in 2020, following The Burgess Group in July. The combination of HealthEdge and Altruista serves over 90 unique health plan customers across commercial and government lines of business. The deal will especially bolster HealthRules Payor, HealthEdge’s financial, administrative, and clinical platform for health insurers.
Based on search results in our Health Deal Database, Blackstone purchased HealthEdge in early March 2020 for $730 million. The investment was led by Blackstone’s growth equity team. With two deals on the books for HealthEdge and Blackstone, it looks like the partnership is off to a strong start.