Health plan administrative company UST HealthProof has entered into a definitive agreement to acquire health technology company Advantasure for an undisclosed amount.
The transaction is expected to formally close in the fourth quarter of 2022. Advantasure will maintain its corporate leadership structure and office locations, according to the Sept. 19 UST HealthProof news release.
"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," UST HealthProof CEO Kevin Adams said.
"The continued advancement of UST HealthProof into a leading health insurance technology and business process as a service provider is the latest example of our continued commitment to bringing about digital evolution in healthcare," UST CEO Krishna Sudheendra said.