Strategic move streamlines collaboration
between sector leaders to improve product offering and
capabilities
ALISO VIEJO, Calif.,
Sept. 19,
2022 /PRNewswire/ -- UST HealthProof, a UST company
and a market leader in core administrative solutions and
Business-Process-as-a-Service (BPaaS) for health plans, has entered
into a definitive agreement to purchase Advantasure, a healthcare
technology and business process services company dedicated to
improving the performance of health plans and provider
organizations in the delivery of government healthcare programs.
Advantasure's commitment to platform and technology excellence and
uncompromising customer service will complement UST HealthProof's
expertise in solving complex operational challenges and
streamlining health plan operations.
Both UST HealthProof and Advantasure were founded with the
mission to shape the future of US health insurance by reducing
administrative costs. This strategic acquisition will empower UST
HealthProof to provide health plans with comprehensive solutions
for government programs that will lower the total cost of
care while simultaneously improving healthcare experiences for
members and providers.
"Bringing Advantasure into the UST HealthProof family allows us
to combine our innovative and consumer-centric platform with
Advantasure's proven solutions expanding our capabilities into the
important Risk and Quality arena" said Kevin Adams, CEO of UST HealthProof. "The
continued advancement of UST HealthProof into a leading health
insurance technology and BPaaS provider is the latest example of
our continued commitment to bringing about digital evolution in
healthcare" said Krishna Sudheendra,
CEO of UST.
"Being a part of the UST HealthProof family is an exciting step
forward for Advantasure, and it's a great partnership for both
organizations. Together, the companies have enhanced capabilities
and expertise to deliver more services and solutions that meet the
needs of clients on a broader scale," said John Roberts, interim president of
Advantasure.
Both companies will collaborate as they work toward a seamless
ownership transition. Advantasure will continue to operate under
its current name and maintain its offices in Glen Allen, VA and Southfield, MI. The sale is expected to be
finalized in Q4 2022, pending regulatory approval and satisfaction
of customary closing conditions. As private companies,
Advantasure and UST HealthProof do not disclose financial figures
associated with transactions of this nature.
About UST HealthProof
UST HealthProof, a UST company is on a mission to play a role in
shaping how the future of healthcare is delivered. Focused on
consumer-centric and cloud-based solutions to reduce administrative
cost, UST HealthProof administers and serves over 3 million members
across multiple lines of business including Medicare, Medicaid,
Commercial, Individual and self-funded employer groups. Its proven
core administration solutions and business process-as-a-service
(BPaaS) provide transparency and improve operational efficiency,
breaking down operational barriers to scale and drive strategic
growth, visit UST HealthProof to learn more.
About Advantasure
Advantasure is a healthcare technology and business process
services company that improves the performance of health plans and
provider organizations in the delivery of government healthcare
programs. Through a comprehensive portfolio of products and
services, Advantasure enables clients to lower administrative
costs, increase reimbursement accuracy and improve the quality of
care for their members. Headquartered in Glen Allen VA, with an office in Southfield, MI. For more information, visit
Advantasure.com to learn more.
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SOURCE UST HealthProof