SPi, Global sells US-based healthcare business

MANILA, Philippines - Spi Global is selling its US-based healthcare business to America’s leading provider of technology-enabled healthcare performance improvement services.

In a statement, SPi Global said it has entered into a definitive agreement to sell its wholly-owned subsidiary, Spi Healthcare to Conifer Health Solutions.

However, SPi Global said it would retain its healthcare BPO operations in the Philippines and remains committed to leading the continuing growth of the unit.

Maulik Parekh, president and chief executive officer of SPi Global, said the business of SPi Healthcare has more than doubled since it was acquired seven years ago making 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,” Parekh said.

SPi Healthcare president John O Donnell said the company is looking forward to joining Conifer Health.

 “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,” he said.

Conifer Health Solutions president and chief executive officer Stephen Mooney cited the sustained growth achieved by SPi Healthcare making it the recognized leader in the physician revenue cycle marketplace with a reputation for service delivery excellence.

 “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,” Mooney said.

Conifer Health 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 four million lives, annually.

SPi Global operates 30 offices and facilities with over 19,000 employees in the US, Netherlands, Philippines, India, Vietnam, China and Nicaragua. It delivers a wide range of solutions in Customer Relationship Management, Content, and Healthcare.

In February 2013, PLDT unloaded its interest in SPi Global Holdings Inc. in favor of European private equity firm CVC Capital Partners through Asia Outsourcing Gamma Limited (AOG) for a total consideration of $300 million.