One of the largest private equity and alternative investment firms in the world just bought a majority stake of a promising healthcare software company. News broke on Monday afternoon that Blackstone Group (NYSE: BX) will become the majority owner of HealthEdge, a healthcare software developer for health insurers. HealthEdge develops a cloud-based software platform that helps health insurers keep track of their plans, enroll participants, and handle other administrative tasks. The company's revenue grew by 30% in 2019 compared with last year, while its customer base has risen by 25%. Although the full details of the transaction weren't disclosed, one person close to the matter said this deal puts HealthEdge's value at around $700 million. Image source: Getty Images. While Blackstone has made deals in the tech sector before, healthcare is an area that the private-equity giant has less experience in. Other recent Blackstone acquisitions include a deal in November to acquire a majority stake in MagicLab, the maker of dating app Bumble, for around $3 billion. Are further healthcare investments on the horizon? Back in January, news broke that Blackstone had raised three-quarters of the $4.6 billion target it set for a new life science sector investment fund. This would be one of the largest funds in this sector, a testament to the appeal of the high-growth, high-risk nature of the healthcare and biotech markets. 10 stocks we like better than The Blackstone GroupWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and The Blackstone Group wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Mark Prvulovic has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source