SPi Global Signs Definitive Agreement to Sell Its Medical Transcription Business
Manila, Philippines, August 5, 2011. SPi Global today announced that it has entered into a definitive agreement to sell its medical transcription business line assets to Acusis, LLC. Acusis, with headquarters in Pittsburgh, Pennsylvania, is a global provider of outsourced clinical documentation solutions.
“We are pleased to have been engaged with Acusis for the acquisition of SPi’s medical transcription business due to the enhanced service offerings and the sustained support and leadership this provides to our medical transcription customer base,” said Maulik Parekh, president and CEO of SPi Global.
“The sale of our medical transcription business is a move that complements the strategic direction we are taking in our healthcare business. By turning over SPi Global’s medical transcription business to Acusis, I am confident that the tradition of excellence that the Philippines is known for will continue, leveraged on the quality of our technical talent and the significant potential for constant growth in the country’s medical transcription industry,” he added.
“The acquisition of SPi’s medical transcription business further solidifies our commitment to bring valuable, patient-care focus on clinical documentation solutions and processes to a broader customer base in the medical community,” said Ray Dyer, president and CEO of Acusis, LLC. “We have no operation in the Philippines and taking this step to acquire a medical transcription pioneer and leader in the Philippines validates the market trend towards utilizing a global resource network to meet demands for high-quality and secure transactions for the healthcare industry’s growing clientele,” he concluded.
Upon completion of the transaction, Acusis CEO Ray Dyer will take over the SPi medical transcription business and will lead the 500 SPi employees working from the United States and the Philippines who will join the Acusis team.
SPi Global entered the medical transcription business in 2006. Since then, the portfolio of its healthcare BPO offering has expanded to include revenue cycle management, and coding and compliance consulting services. With SPi Global divesting its interest in the medical transcription business, the company will continue to fortify its market position in customer relationship management, publishing, and healthcare.
Suender M&A Advisors assisted SPi Global in initiating and bringing this transaction into fruition.
About SPi Global
SPi Global is a leading full-service BPO provider with offices and facilities across North America, Europe, and the Asia Pacific region. SPi Global has over 15,000 employees delivering a wide range of Knowledge Process and Customer Relationship Management solutions to diversified markets, including financial services, healthcare, legal, and publishing. SPi Global consistently improves operating efficiency, lowers costs, and helps to strengthen the competitive position of more than 500 clients.
SPi Global is a wholly owned subsidiary of the Philippine Long Distance Telephone Company (PLDT), the leading telecommunications provider in the Philippines. PLDT is listed on the Philippine Stock Exchange (PSE: TEL), and its American Depository Shares are listed on the New York Stock Exchange (NYSE:PHI).
About Acusis
Acusis, a nationwide provider of outsourced clinical documentation solutions, provides integrated solutions for hospitals, clinics, and physician practices. Acusis has Higher Standards, specializing in superior performance, integrity, and world-class quality. A team of 1,100 highly trained Acusis associates throughout the United States, India and the Philippines provide consistent excellence and high customer satisfaction. The Acusis product development team provides state of the art clinical documentation and technology solutions that seamlessly integrate with client needs. Contact 412.209.1300 or www.acusis.com for more information.
Acusis is a registered trademark of Acusis, LLC. All rights reserved.
Contact : Celeste Ilagan
Vice President, Marketing & Corporate Communications
SPi Global
+639189906140
[email protected]