MANILA, Philippines – SPi Global, partly owned by dominant carrier Philippine Long Distance Telephone Company (PLDT), is retaining its healthcare business process outsourcing (BPO) operations in the Philippines despite its decision to sell wholly-owned SPi Healthcare to a US-based company.
SPi Global has agreed to sell SPi Healthcare to Conifer Health Solutions, a provider of technology-enabled healthcare performance improvement services in the US.
However, SPi Global said it would retain its Healthcare BPO operations in the Philippines and remains committed to the continuing growth of the unit.
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.
PLDT divested its entire interest in SPi Global but reinvested 20% in AOG after the buyer committed to further expand and retain its presence here in the Philippines.
Maulik Parekh, president and chief executive officer of SPi Global, said the business of SPi Healthcare has more than doubled since it was acquired 7 years ago, making it one of the major 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,” O’ Donnell added.
Conifer Health Solutions president and chief executive officer Stephen Mooney cited the sustained growth achieved by SPi Healthcare.
“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 4 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. Apart from healthcare, it delivers a wide range of solutions in customer relationship management and content.
SPi Global is a wholly-owned unit of AOG. – Rappler.com