UST announces Bain Capital’s acquisition of UST HealthProof in ‘big deal’ 

HealthEdge aims to empower health plans with modern AI-enabled technology and services

Leading AI and technology transformation solutions company UST has successfully closed a transaction in which Bain Capital has acquired UST HealthProof, a subsidiary that provides solutions for core administration and clinical operations for health plans across all lines of business, for an as yet undisclosed sum.

Combines with HealthEdge

The transaction was overseen by Goldman Sachs and JP Morgan Securities as financial advisors and Davis Polk & Wardwell as legal counsel. UST HealthProof will combine with HealthEdge, provider of cloud-based solutions to streamline healthcare provider data, to create a next-generation platform for payers in the industry. HealthEdge itself is a recent acquisition of Bain Capital.

The deal involves sale and transfer of the UST subsidiary and its more than 4,000 employees to HealthEdge, sources said. HealthEdge aims to empower health plans with modern AI-enabled technology and services that lower total costs and improve operational efficiency. Under terms of the deal, CEO of HealthProof will become the new CEO of combined entity that retains name as HealthEdge. 

Deal size under wraps 

A Financial Times report said Bain Capital will pay information technology group UST $1.3 billion in cash for the company, with a further $300 million to be paid out when certain milestones are met. businessline could not independently confirm either the deal size or affected employee number.

For UST, the deal marks an expansive stride in its growth and transformation journey. By divesting UST HealthProof, it has aligned focus around high-growth areas such as enterprise AI, cloud transformation, data modernisation and platform engineering.

By uniting HealthEdge’s AI-powered payer applications with UST HealthProof’s interoperability suite, the new platform will streamline administrative processes, lower total costs, and improve member experience. UST HealthProof’s proprietary technology will also reduce risks of migrating to the cloud, giving payers a safer path to digital transformation while supporting better clinical outcomes for both payers and patients.

Digital future 

These capabilities reshape the digital future for clients across healthcare, BFSI (banking, financial services, and insurance), retail, and other industries. UST is a large and fastest-growing healthcare technology solutions enterprise, with more than 5,000-strong healthcare team and more than 20 years of industry expertise. 

The company serves top five healthcare payers in the US, apart from more than 50 leading healthcare systems as well as global pharmaceutical and life sciences leaders. With a customer retention rate of more than 98 per cent over the last five years, it is a trusted partner for payers and providers. 

Fresh chapter 

UST HealthProof will now begin its next chapter with Bain Capital and HealthEdge, and will be positioned to scale more rapidly, explore new partnerships, and continue delivering innovation for its clients. Growth and evolution of UST Healthproof is a testament to UST’s expertise in fostering robust, innovative, and effective client-focused platforms.

The two companies will continue to maintain a strong relationship, ensuring continuity to shared customers and ongoing collaborations.

New opportunities 

Krishna Sudheendra, CEO, UST, said the deal marks both the strength of what the company has built as well as clarity of vision for the future.

“It allows UST to focus on transformative solutions we lead in. 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,” Sudheendra said. 

Published on September 5, 2025