Everise has announced it has signed a binding agreement to acquire the healthcare vertical of Continuum Global Solutions (CGS) from Skyview Capital. The acquisition is intended to strengthen Everise’s capabilities in pharmacy benefit management and expand its reach within the healthcare sector.
With this deal, Everise will broaden its services for healthcare payers and providers in the United States. The company plans to extend its offerings to include specialty clinic and retail pharmacy businesses. As part of the agreement, more than 8,000 CGS employees are expected to join Everise, with efforts focused on ensuring a smooth transition and transfer of expertise.
Sudhir Agarwal, Founder & CEO of Everise, stated: “We are impressed by the healthcare vertical Skyview has built and are delighted to welcome the CGS healthcare team to Everise. The integration of CGS’ healthcare vertical will broaden and deepen our healthcare expertise, solidifying our position as an end-to-end healthcare experiences provider in the payer and pharmacy benefits segments of the healthcare services market. I am confident that our combined expertise will accelerate our journey as a global healthcare BPO leader with our shared vision of transforming customer experiences.”
Naeem Arastu, Partner & COO of Skyview Capital, commented: “We are incredibly proud of the immense growth CGS has achieved under our stewardship, evolving into a leader within healthcare services. After careful consideration, we are happy to have selected Everise, backed by world class private equity sponsors Warburg Pincus and Brookfield, as the new leader to continue this positive momentum, and we wish them every success in the future.”
The completion of this transaction is subject to regulatory approvals.
Everise was founded in 2016 and has grown rapidly in outsourcing for healthcare services. Headquartered in the United States with over 28,000 employees across eight markets, Everise provides customer service solutions for major US and international healthcare companies. The company uses technologies such as artificial intelligence and speech analytics in its operations.
CGS began operations in 2018 as a business process outsourcing provider with a significant presence in the US and offshore locations. It operates 25 sites across 12 countries specializing in omnichannel customer service management.
Skyview Capital is a private investment firm based in Miami with offices also in Los Angeles and London. The firm focuses on acquiring and managing enterprises primarily involved in technology, telecommunications, business services, and manufacturing.
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