We advised UST on the transaction

Davis Polk advised UST on the sale of its subsidiary UST HealthProof to Bain Capital. As part of the transaction, UST HealthProof merged with HealthEdge, which Bain acquired earlier this year. Financial terms of the HealthProof sale were not disclosed.

UST is a global provider of digital transformation solutions. For more than 20 years, UST has partnered with leading companies around the world to drive meaningful change through technology and innovation. Headquartered in Aliso Viejo, California, the company has over 30,000 employees across more than 30 countries. HealthProof is a healthcare technology provider focused on serving the health insurance industry.

Founded in 1984, Bain Capital is one of the world’s leading private investment firms, investing across five focus areas: private equity, growth and venture, capital solutions, credit and capital markets, and real assets. Bain has 24 offices on four continents, more than 1,850 employees and approximately $185 billion in assets under management.

The Davis Polk corporate team included partners James P. Dougherty and Shanu Bajaj, counsel Alon Benjamin Harish, and associate Steven Jaffe and Yi Bao. Partner Kara L. Mungovan provided tax advice. Partner Veronica M. Wissel provided executive compensation advice. Partner Matthew J. Bacal provided intellectual property advice. Partner Robert F. Smith provided sponsor finance advice. Partner Jesse Solomon provided antitrust and competition advice. Members of the Davis Polk team are based in the New York and Washington DC offices. 

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