Dynamic Healthcare M&A Database

Acquiring Party	Spi Technologies, a subsidiary of the Philippines phone company.
Transferring Party	Springfield Service Corp., the 10th largest player in the medical billing and revenue cycle management market, with 383 employees operating in five U.S. locations.
Sector	Medical Services
Date	April 17, 2007
Analysis The deal strengthen Spi's relationships with more than 400 hospitals, multispecialty clinics and physician practices. In August 2006, SPi acquired transcription service provider CyMed Inc. for $35m. Outsourced medical billing is a rapidly growing $25-billion industry. The Deal adds U.S. based critical mass to Spi's off-shore billing services. Deal value - $44m on expected sales of $30m (1.5x).
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Dynamic Healthcare M&A Database - 2Q07