UST Global makes its third acquisition in three months
US and India-based information technology services firm UST Global has made its third acquisition in as many months.
UST Global has bought healthcare technology consulting firm Contineo Health in an effort to develop end-to-end business solutions that work across the payer and provider domains, it said in a media statement.
The terms of the deal or the value were not disclosed.
Last week, UST Global had bought compliance assessment and privacy automation platform ComplyUSA. Earlier, in October, the firm had purchased information technology consulting firm SCM Accelerators, as part of a major growth initiative to lead their SAP business.
The Orange County, California headquartered company was founded in 1998 by Stephen Ross and Indian-origin entrepreneur G A Menon. The company has most of its workforce in India across multiple locations, with Thiruvananthapuram and Bengaluru housing most of them.
Contineo specialises in electronic health records (EHR) optimisation and has partnerships with over thirty major hospital systems across the US. According to UST Global, by connecting and integrating health data, Contineo can improve care quality, health outcomes and patient satisfaction while lowering the rising costs of healthcare.
"This acquisition enhances our ability to serve our healthcare clients in their transformation journeys cutting across payer and provider footprints. We are focussing on building the right capabilities ahead of the curve through strategic acquisitions and partnerships,” said Jaffry Mohammed, senior vice president and head of healthcare, UST Global.
The 23,000-people strong UST Global said that the healthcare ecosystem in the US continued to consolidate and shrink with payer-provider collaboration leading the charge toward ensuring improved quality, increased access to care, and lowered costs for consumers.
In September, UST Global had announced a seed investment in Aprexo. The London-based firm founded in 2017, provides a cloud-based data mastering solution (DMS) for fund managers, asset owners and asset servicers allowing them to control, surface and use data in multiple ways.
The two-decade-old company recently joined the billion-dollar valuation club after raising $250 million from Singapore-based wealth fund, Temasek.