Healthcare Finance Redefined: Sphere's Strategic Divestments Signal Fintech-Focused Future

Nashville, TN., January 12, 2024 - With shrewd strategic pivots, Sphere, a major player in financial technology, is fast repositioning itself as the transformative force within the healthcare industry. The company's recent divestiture of Qgiv, a renowned nonprofit fundraising tech platform, to Bloomerang, a comprehensive donor and volunteer relationship management platform, underlines Sphere's unwavering commitment to spearhead the drive for healthcare finance evolution.

Sphere's Strategy: A Tactical Shift Towards Healthcare

This divestiture, combined with Sphere's sale of its retail commercial division last October, vividly illuminates the company's intent to emerge as the favored software and payment partner for the healthcare sector. Through these tactical maneuvers, Sphere is amassing resources to harness its transformative healthcare financial technology solutions, such as TrustCommerce® and Health iPASS, that aim for an unparalleled enhancement of patient financial experience and workflow.

According to Executive Chairman at Sphere, Andrew Rueff, "Sphere's groundbreaking healthcare technology solutions are dramatically reshaping the patient financial landscape and workflow." The company's solutions are trusted by over a third of the 100 largest health systems in the US and innumerable independent medical providers across the nation, signifying a rigorous endorsement of Sphere's highly integrated software solutions that align flawlessly with clients' workflows, patient billing systems, and electronic health records.

Sphere: The Singular Focus on Healthcare

With its strategic refocusing, Sphere stands as an organization committed wholly to fortifying its ongoing pledge and influence in the health sector. "Together, Bloomerang and Qgiv occupy a unique position allowing non-profits to raise more effectively by placing relationships at the core of fundraising," says Rueff. Sphere is buoyed by the opportunity to back this pivotal milestone furthering Bloomerang and Qgiv's commitment to a unified platform offering outstanding fundraising and leadership in donor relationship management.

Handling the Transition: Sphere's Consultation & Impact

Sphere enlisted William Blair as financial advisor in connection with the transaction. While specifics of the acquisition remain private, Sphere assures that the transaction will not affect any of its other entities.

About Sphere: Defining Payment Processes and Patient Engagement

Sphere is a software and payments technology entity with an impressive market presence in healthcare and other complex, high-growth sectors. Sphere's solutions, including TrustCommerce® and Health iPASS, are relied upon by over a third of the largest 100 health systems in the US, as well as numerous independent medical providers nationwide. Seamlessly integrated into clients' workflows, patient billing systems, and electronic health records, these solutions ensure secure, streamlined payment processes, and enhanced patient engagement.

Media Contact:
Michelle Ronan Noteboom, Amendola Communications, [email protected]

Defining the Future: Sphere's Role in Fintech

With its strategic divestitures and focussed approach, Sphere embarks on a new journey to redefine and revolutionize the shape of financial technology within the healthcare sector. With its innovative software solutions, Sphere holds vast potential in unlocking new frontiers for patient financial experiences and secure healthcare payment systems. In an industry needing digital transformation, Sphere rises to the challenge, introducing innovative, secure, and robust financial technology solutions on an impressive scale.

SOURCE Sphere