SPi Global, a Philippines-based business process outsourcing provider that is backed by CVC Capital Partners, has agreed to sell its healthcare business SPi Healthcare to Conifer Health Solutions. No financial terms were disclosed.
MANILA, PHILIPPINES–(Marketwired – Sep 24, 2014) – SPi Global, a leading Business Process Outsourcing (BPO) provider has entered into a definitive agreement to sell its wholly owned subsidiary, SPi Healthcare to Conifer Health Solutions, America’s leading provider of technology-enabled healthcare performance improvement services. SPi Global noted that it will retain its Healthcare BPO operations in the Philippines and remains committed to leading the continuing growth of the unit.
“Since we acquired SPi Healthcare seven years ago, the leadership team has more than doubled the business and made it one of the top providers of revenue cycle management and health information services in the US. We believe that Conifer Health Solutions, with its expansive healthcare network, is the right home for SPi Healthcare at this juncture as it aspires to strengthen its leadership position in the marketplace,” said Maulik Parekh, President & CEO, SPi Global. “I express my sincere appreciation to John O’Donnell and his management team for their many contributions to the company,” added Parekh.
John O Donnell, President, SPi Healthcare says that “In the last seven years, SPi Global has provided us with the right platform to grow. We thank SPi for its guidance and confidence and from hereon we are looking forward to joining Conifer, which shares our unparalleled commitment to consistently exceed the needs of our clients. Our deep operational capabilities, coupled with understanding the challenges and opportunities of providers in today’s dynamic healthcare environment, will set us apart from our collective competition.”
“The SPi Healthcare leadership team has achieved decades of sustained growth. They are now the recognized leader in the physician revenue cycle marketplace with a reputation for service delivery excellence,” said Stephen Mooney, President and CEO, Conifer Health Solutions. “We believe the combined organization will drive incremental growth for Conifer by creating an enhanced value proposition for physicians in a variety of care settings — including integrated delivery networks — that are seeking to improve their operational performance in the era of value-based care and other changes in healthcare delivery and financing.”
About SPi Global
SPi Global is the Philippines’ most globally recognized full-service BPO provider with 30 offices and facilities around the world, including the US, Netherlands, Philippines, India, Vietnam, China and Nicaragua. It has over 19,000 employees delivering a wide range of solutions in Customer Relationship Management, Content, and Healthcare.
SPi Global is fully owned by Asia Outsourcing Gamma Limited, a company owned 80 percent by CVC Capital Partners, one of the world’s leading private equity and investment advisory firms, and 20 percent by Philippine Long Distance Telephone Company, the leading telecommunications provider in the Philippines.
For more information, visit www.spi-global.com.
About Conifer Health Solutions
Conifer Health Solutions is a healthcare services company helping more than 700 clients strengthen their financial performance, transition from volume to value-based care and enhance the consumer and patient healthcare experience, with the goal of improving quality and access to healthcare, while controlling costs. Conifer has more than 19 million patient interactions across all service lines, manages more than $25 billion in patient revenue and $17 billion in medically managed spend; and provides technology and health management services to support care management for more than 4 million lives, annually.
For more information, visit coniferhealth.com and follow @coniferhealth on Twitter.