N.J. deal: Zelis completes acquisition of Sapphire Digital

Zelis, a health care payments company, has completed its previously announced acquisition of Sapphire Digital, a provider selection platform, it announced Tuesday.

“This is an exciting day for both companies, as we complete the acquisition of Sapphire and accelerate our efforts to harmonize health care payments and to help health care consumers navigate their health care financial journeys,” Amanda Eisel, CEO of Bedminster-based Zelis, said in a prepared statement. “In the short term, we’re looking forward to supporting our clients in remaining compliant with legislative requirements, including the No Surprises Act and Transparency in Coverage rule.”

The deal was first announced in September.

“We’re thrilled to become part of Zelis as, together, we amplify our offerings and help health care consumers to make more informed choices on care,” Kyle Raffaniello, CEO of Lyndhurst-based Sapphire, said in a statement. “Already, we’re building plans to drive a better experience for health care payers and their members.”

TripleTree LLC served as Sapphire’s exclusive financial adviser. It was represented by Lowenstein Sandler LLP, while Zelis was represented by Kirkland & Ellis.