A Business Process Outsourcing unit (BPO) of Philippine Long Distance Telephone Co. (PLDT) on Friday said it has signed a contract with a US-based medical outsourcing firm to sell its medical transcription business line assets.
In a statement, SPi Global said it entered into a definitive agreement to sell its medical transcription business line assets to Acusis, LLC.
“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,” Maulik Parekh, president and chief executive of SPi Global said.
Parekh said the sale of its medical transcription business was a move that complemented the strategic direction that the company was taking in its 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.
Ray Dyer, president and chief executive of Acusis, LLC said the acquisition further solidified the company’s commitment to bring valuable, patient-care focus on clinical documentation solutions and processes to a broader customer base in the medical community.
“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,” said.
Upon completion of the transaction, 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 the transaction into fruition.
SPi Global is a leading full-service BPO provider with offices and facilities across North America, Europe , and the Asia Pacific region.
It has more than 15,000 employees delivering a wide range of Knowledge Process and Customer Relationship Management solutions to diversified markets, including financial. [PNA]
