Conifer Health Solutions To Buy SPi Healthcare For About $235 Mln

(RTTNews) - Tenet Healthcare Corp. (THC) said that Conifer Health Solutions, a provider of technology-enabled healthcare performance improvement services, entered into a definitive agreement to acquire SPi Healthcare, a provider of innovative revenue cycle management or RCM, health information management or HIM and software solutions for independent and provider-owned physician practices, for about $235 million.

Conifer expects to complete the transaction in the fourth quarter of 2014.

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 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. The Tinley Park offices and SPi's six service centers will continue to serve existing and future physician RCM clients.