UST HealthProof acquires Advantasure

Acquisition enhances products and services for reducing core administrative healthcare costs

ALISO VIEJO, Calif., March 21, 2023 /PRNewswire/ -- UST HealthProof, a UST company and market leader in core administrative solutions and Business-Process-as-a-Service (BPaaS) for health plans, closed a deal today to purchase Advantasure, a technology solutions company for Medicare plans. The acquisition marks the next stage of growth for UST HealthProof, as it works to revolutionize healthcare in the United States through comprehensive solutions for reducing administrative costs.

UST HealthProof and Advantasure were created with the same goals in mind: lower the overall cost of care and create a better experience for members and providers. By welcoming Advantasure into the UST HealthProof family, the company expects to enhance its support for government programs, including offering expanded solutions in Risk and Quality.

"This transaction is yet another milestone in our transformational journey and provides a platform of growth for our clients and employees," said Kevin Adams, UST HealthProof CEO. "Combining Advantasure's modern solutions and its distinct workforce with UST HealthProof's mission and services makes us differentiators in the market."

Leaders across both companies have been working diligently to create a smooth transition for Advantasure to minimize disruption to customers and employees. Robert Hillman, an experienced innovator in healthcare operations, has been named president of Advantasure. He takes over from John Roberts, who has been serving as the interim president for the last year.

"We're excited to bring Robert on as Advantasure's new president. He has an expansive background in healthcare and is set to lead the Advantasure team and build upon their success," said Adams.

"We are really excited to welcome Advantasure into the broader UST family. Advantasure's products and service offerings are hugely complimentary to the work we do at UST HealthProof, and the acquisition further enhances the value we deliver to our clients in reducing administrative costs and improving member experience. Several teams worked tirelessly on the acquisition over the last few months, and I would like to congratulate all of them for getting us to this point. I would also like to thank our clients and partners for their continued support in our mission," said Paras Chandaria, executive chairman of UST.

Advantasure will continue to operate under its current name and maintain its offices in Glen Allen, VA, and Southfield, MI. As private companies, Advantasure and UST HealthProof do not disclose prices 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 costs, 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 driving 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 provides 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. Advantasure is headquartered in Glen Allen, VA, with an office in Southfield, MI. For more information, visit Advantasure.com to learn more.

About UST

For more than 23 years, UST has worked side by side with the world's best companies to make a real impact through transformation. Powered by technology, inspired by people and led by our purpose, we partner with our clients from design to operation. Through our nimble approach, we identify their core challenges and craft disruptive solutions that bring their vision to life. With deep domain expertise and a future-proof philosophy, we embed innovation and agility into our clients' organizations—delivering measurable value and lasting change across industries, and around the world. Together, with over 30,000 employees in 30+ countries, we build for boundless impact—touching billions of lives in the process. Visit us at www.UST.com.

SOURCE UST HealthProof