Blackstone has engaged advisers to explore a sale of its majority stake in HealthEdge, a health insurance software provider, aiming for a valuation exceeding $2.5bn. Meanwhile, Omers, one of Canada’s largest pension funds, is working on the sale of Premise Health, which operates one of the largest direct-access care networks in the US, seeking a $2bn valuation.

These deals come as private equity firms prepare for a wave of exits in healthcare. According to Bain & Company, buyout funds held stakes in 2,700 healthcare companies for over six years as of November 2023, up from 2,100 in 2018, setting the stage for increased sponsor exits in 2025.

HealthEdge, which Blackstone acquired in 2020 for around $700m, provides software that helps health insurers modernise their systems and streamline claims processing. The company generated between $100m and $120m in earnings last year and previously received a minority investment from Coatue Management in 2021, valuing it at about $2bn. Blackstone attempted to sell HealthEdge in 2022 but did not complete a deal.

Founded in 1964, Premise Health has expanded through acquisitions to operate 800 wellness centres across 46 states, serving over 2,500 employers. Omers invested in the company in 2018 in a deal valued at just over $1bn, including debt.

Both sale processes remain in early stages, and the owners could decide to hold onto their stakes. However, strong private equity interest is expected, as firms seek opportunities in the resilient healthcare sector.