Tenet IT subsidiary Conifer Health Solutions to acquire SPi Healthcare

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Conifer Health Solutions, a provider of healthcare performance improvement solutions and a subsidiary of Dallas-based Tenet Healthcare, will acquire SPi Healthcare, a vendor of revenue cycle and health information management solutions for physician practices, for $235 million.

A definitive agreement between the two companies has been signed and the transaction is expected to close at the end of the fourth quarter.

"The SPi leadership team has achieved decades of sustained growth. They are now a recognized leader in the physician revenue cycle marketplace with a reputation for service delivery excellence," said Stephen M. Mooney, president and CEO of Conifer. "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."

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