BusinessWire India
Bengaluru (Karnataka) [India], September 5: UST, a leading AI and technology transformation solutions company, has successfully closed its transaction with Bain Capital involving UST HealthProof, a subsidiary of UST that provides solutions for core administration and clinical operations across all lines of business. As part of this transaction, UST HealthProof will combine with HealthEdge, creating one of the healthcare industry's leading next-generation platforms for payers.
For UST, this move marks a deliberate and strategic step in its growth and transformation journey. By divesting UST HealthProof, UST has aligned its strategic focus around high-growth areas such as enterprise AI, cloud transformation, data modernization, and platform engineering. These capabilities are reshaping the digital future for clients across healthcare, BFSI, retail, and other industries, and UST is committed to further enhancing its leadership position in these key sectors to increase solutions and benefits to payers, providers, and clients.
UST remains one of the largest and fastest-growing healthcare technology solutioning enterprises, with a 5,000+ strong healthcare team, and more than 20 years of industry expertise. The company serves all the top five U.S. healthcare payers, more than 50 leading U.S. healthcare systems, as well as global pharmaceutical and life sciences leaders. With a customer retention rate of more than 98% over the last five years, UST remains a trusted partner for payers and providers in addition to pharma and healthtech companies.
At the same time, UST HealthProof begins its next chapter with Bain Capital and HealthEdge. With its dedicated investment and leadership structure, UST HealthProof will be positioned to scale more rapidly, explore new partnerships, and continue delivering innovation for its clients.
UST was instrumental in the growth and evolution of UST Healthproof, a testament to its longstanding expertise in fostering robust, innovative, and effective client-focused platforms. The two companies will continue to maintain a strong relationship, ensuring continuity for shared customers and ongoing collaborations.
"Today's announcement reflects both the strength of what we have built and the clarity of our vision for the future. This milestone allows UST to focus on the transformative technologies we lead in. It also ensures that UST HealthProof, with the backing of Bain Capital, can unlock new opportunities for growth and innovation. It is a win for our clients, our people, and the industry at large," said Krishna Sudheendra, Chief Executive Officer, UST.
This development aligns with UST's long-standing and successful growth strategy by helping the company to remain agile, accelerating innovation, and creating lasting value for clients and employees worldwide.
Goldman Sachs and J.P. Morgan Securities LLC acted as financial advisors and Davis Polk & Wardwell, LLP as legal counsel to UST.
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