Conifer Health Solutions, the nation’s leading provider of technology-enabled healthcare performance improvement services, today concluded its $235 million acquisition of SPi Healthcare, the Tinley Park, Illinois-based provider of innovative revenue cycle management (RCM) and healthcare information management (HIM) services and software solutions for independent and provider-owned physician practices. It was previously announced on September 23, 2014 that Conifer had entered into a definitive agreement to acquire SPi Healthcare. JP Morgan Securities, LLC advised Conifer on the transaction.
According to Conifer president and CEO, Stephen M. Mooney, SPi Healthcare will enhance Conifer’s already expansive service portfolio and solidify its position as a sole-source provider of revenue cycle management and value-based care solutions to healthcare providers and other healthcare industry segments. SPi Healthcare’s 600 employees currently serve more than 3,700 physicians across 21 states, handling over $3 billion in physician charges, coding approximately 2.5 million encounters and auditing approximately 150,000 health records annually.
About SPi Healthcare
SPi Healthcare is the combination of two industry-leading organizations, Springfield Service Corporation (SSC) and Laguna Medical Systems (LMS), and is one the world’s leading global business process outsourcing firms. SSC began providing revenue cycle management and physician billing services in 1986. LMS began providing health information management (HIM) services in 1987. SSC was purchased by SPi Global in April 2007, and LMS was purchased by SPi Global in August 2009. In October 2011, SSC and LMS were united under the SPi Healthcare brand.