SPi Healthcare Bought by Conifer for $235 Million

Sept. 24, 2014
The year of mergers and acquisitions in healthcare IT continues as Frisco, Texas-based Conifer Health Solutions has bought revenue cycle management (RCM) and health information management (HIM) software vendor, SPi Healthcare (Tinley Park, Ill.) for $235 million.

The year of mergers and acquisitions in healthcare IT continues as Frisco, Texas-based Conifer Health Solutions has bought revenue cycle management (RCM) and health information management (HIM) software vendor, SPi Healthcare (Tinley Park, Ill.) for $235 million.

Conifer, which operates in the clinical integration, risk management, population health and RCM space, expects to complete the transaction in the fourth quarter of 2013. John O’Donnell, SPi’s chief executive officer, will join Conifer’s senior management team reporting to Stephen M. Mooney, President and CEO. SPi's 600 employees, in Tinley Park and six service centers, will continue to work in those places.

SPi provides its solution specifically to physician practices and independent practice associations (IPAs), a market which Conifer is looking to improve. The acquisition also allows Conifer to provider recovery audit contractor (RAC) audit defense and preparedness services and ICD-10 gap analysis and education, as well as payer contract management and software consulting.

“Nearly 50 percent of large practices utilize GE or Epic EHRs. SPi’s long-term experience with these technology platforms represents an important pathway for additional growth for Conifer,” Mooney said in a statement.

Last year, SPi had approximately $62.5 million in revenue, ranking it 80th on the Healthcare Informatics 100. This acquisition makes it the latest company on the list to either be acquired or do the acquiring themselves. Recently, Cerner bought Siemens' health IT division and TriZetto was acquired by Cognizant.

Read the source article at MarketWatch

Sponsored Recommendations

Going Beyond the Smart Room: Empowering Nursing & Clinical Staff with Ambient Technology, Observation, and Documentation

Discover how ambient AI technology is revolutionizing nursing workflows and empowering clinical staff at scale. Learn about how Orlando Health implemented innovative strategies...

Enabling efficiencies in patient care and healthcare operations

Labor shortages. Burnout. Gaps in access to care. The healthcare industry has rising patient, caregiver and stakeholder expectations around customer experiences, increasing the...

Findings on the Healthcare Industry’s Lag to Adopt Technologies to Improve Data Management and Patient Care

Join us for this April 30th webinar to learn about 2024's State of the Market Report: New Challenges in Health Data Management.

Findings on the Healthcare Industry’s Lag to Adopt Technologies to Improve Data Management and Patient Care

2024's State of the Market Report: New Challenges in Health Data Management