Sphere, a financial technology company, has successfully divested Qgiv to Bloomerang, enhancing its healthcare technology solutions like TrustCommerce® and Health iPASS.
Sphere Healthcare Financial Technology Solutions
Sphere Executive Chairman Andrew Rueff emphasized Sphere’s commitment to revolutionizing patient financial experiences and workflows in the healthcare sector.
The strategic shift means Sphere can now concentrate on its cutting-edge healthcare financial technology solutions, which include TrustCommerce® and Health iPASS, to enhance the patient financial experience and workflow.
Commenting on the reason for the change of focus, Rueff said, “Together, Bloomerang and Qgiv are in a unique position to put relationships at the heart of fundraising, so nonprofits can raise more.”
With the sale of its retail commercial division in October, Sphere is now fully dedicated to strengthening its impact in healthcare.
“We are excited to support this significant milestone in furthering their commitment to deliver best-in-class fundraising and leadership in donor relationship management in a single platform,” Mr Rueff said, speaking about Bloomerang.
William Blair served as financial advisor to Sphere for this transaction. Terms of the acquisition are undisclosed, and Sphere says this transaction will not affect any of its other entities.
See the announcement in the company press release.
Key Takeaways
- Sphere divests Qgiv to Bloomerang
- Sphere reinforces its focus on healthcare technology solutions.
- Executive Chairman Andrew Rueff commits to transforming patient financial experiences.
- Sphere aims to become the preferred payments and software partner for healthcare.
