Provider of technology-enabled healthcare performance improvement services Conifer Health Solutions has entered into a definitive agreement to acquire SPi Healthcare, a provider of revenue cycle management (RCM), health information management (HIM) and software solutions for independent and provider-owned physician practices. Conifer expects to complete the transaction, valued at $235 million, in the fourth quarter of 2014. John O’Donnell, SPi’s CEO, will join Conifer’s senior management team reporting to Stephen M. Mooney, President and CEO.
“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,” said Mooney.
The Tinley Park offices and SPi’s six service centers will continue to serve existing and future physician RCM clients.Based in Tinley Park, Illinois, SPi provides business operations services to physician practices and independent practice associations (IPAs). In addition to specialized RCM solutions such as denials management, SPi provides recovery audit contractor (RAC) audit defense and preparedness services and ICD-10 gap analysis and education. The organization also offers payer contract management and software consulting capabilities, including a demonstrated expertise with Epic and GE Healthcare electronic health records (EHRs).
SPi will enhance Conifer’s services 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.