UST HealthProof Contact:
Renjit Hubert 949-309-6225
Lisa Bond Brewer 517-648-9678
FOR IMMEDIATE RELEASE
Strategic move streamlines collaboration between sector leaders to improve product offering and capabilities
Aliso Viejo, CA, Sept. 19, 2022 – 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.
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.
In the spring of 2018, Tessellate integrated with a sister company to form a stronger, more competitive organization, with the ability to leverage complimentary products and services and deep industry expertise. Recently, the company unveiled its new brand, Advantasure, with the tagline: Fueling Accelerated Performance.
The new name and tagline accurately reflect the company’s unique suite of technology products and business process services that improve the performance of health plans and provider organizations in the delivery of government healthcare programs.