Thoma Bravo backs Zipari
Brooklyn-based health insurance platform Zipari announced a strategic growth investment from private equity firm Thoma Bravo (the relatively new owner of Majesco) which values the company at over half a billion dollars. Zipari will also combine with health technology company Healthx to create CX platform and solutions for health insurance payers and third-party administrators.
Zipari will now serve nearly 200 clients with a suite of more than 20 products designed to help payers lower healthcare costs and improve ROI by ensuring an ‘efficient and meaningful’ connection between payers, members and providers. Thoma Bravo will partner with Zipari to strengthen client success and delivery, broaden the company’s products and solutions, drive faster innovation and further expand the company’s combined customer base.
“This is an exciting day for Zipari and the culmination of six years of evolution and innovation for healthcare payers. We are very excited to begin our next chapter of growth. I’m especially excited to welcome new colleagues from Healthx and the talent and expertise they bring to our combined company. This transaction opens up new opportunities for our clients and enables payers and TPAs of all sizes to create breakthrough experiences for their consumers. We look forward to working closely with Thoma Bravo as we develop a strategic roadmap for integration and migration that advantages our clients and addresses the diverse needs of the marketplace.” – Mark Nathan, CEO of Zipari.
“We are excited to join Zipari and move our common mission forward. This combination will offer our clients the most comprehensive platform in the market and our team looks forward to working together to deliver just that.” – Mark Rapoport, Healthx CEO.
“At a time when healthcare accessibility is so important, the combination of two premier healthcare IT platforms will allow payers to have the technology they need to improve health outcomes and deliver great experiences for their consumers. We look forward to applying Thoma Bravo’s capital and significant experience in healthcare technology to support Zipari as it continues to grow and deliver innovative products to its newly expanded client base.” – AJ Jangalapalli, a Principal at Thoma Bravo.
“We are thrilled to be partnering with Zipari at this pivotal moment in the company’s growth journey. This strategic growth investment represents a powerful combination of industry leading healthcare IT platforms that drive better consumer experiences in healthcare.” – Hudson Smith, a Partner at Thoma Bravo.
