HealthEdge Raises $13 Million in Venture Capital - Burlington, MA

HealthEdge, a Burlington-based provider of claims and benefit administration, business intelligence and web-portal software products for healthcare payors, announced that it has raised $13 million of venture capital from Psilos Group. HealthEdge was founded by Albert Waxman of Psilos Group and Rob Gillette in 2004. In 2005, the company acquired over $100 million of intellectual property and other assets from deNovis. HealthEdge provides health plans, TPAs, PPOs and insurers software products that help them pursue new strategies focused on increasing revenue, decreasing costs and improving the quality of healthcare, according to the company.

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