Sphere Streamlines Focus on Healthcare Financial Technology with Qgiv Sale

News provided by

Jan 12, 2024, 12:15 ET

NASHVILLE, Tenn., Jan. 12, 2024 /PRNewswire/ -- Sphere, a leading financial technology company, has successfully divested Qgiv, a nonprofit fundraising technology platform, to Bloomerang, the complete nonprofit donor and volunteer relationship management platform. This move, coupled with the prior sale of its retail commercial division in October, reinforces Sphere's commitment to becoming the preferred payments and software partner for the healthcare industry. The strategic shift allows Sphere to concentrate on its cutting-edge healthcare financial technology solutions, such as TrustCommerce® and Health iPASS, aimed at enhancing the patient financial experience and workflow.

"Sphere's innovative healthcare technology solutions are transforming the patient financial experience and workflow" said Andrew Rueff, Executive Chairman at Sphere. "Sphere delivers solutions that are trusted by more than a third of the 100 largest health systems in the US and thousands of independent medical providers across the country to facilitate and drive secure payments by having Sphere's software solutions highly integrated into clients' workflows, patient billing systems, and electronic health records."

As a streamlined organization, Sphere is now fully dedicated to strengthening its ongoing commitment and impact in the healthcare sector.

"Together, Bloomerang and Qgiv are in a unique position to put relationships at the heart of fundraising, so nonprofits can raise more," said Rueff. "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."

William Blair served as financial advisor to Sphere in connection with the transaction. Terms of the acquisition are undisclosed, and this transaction will not affect any of Sphere's other entities.

About Sphere
Sphere is a vertically integrated software and payments technology company with an established market leading presence in the healthcare and other high-growth complex 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. These solutions are seamlessly integrated into clients' workflows, patient billing systems, and electronic health records, ensuring secure and efficient payment processes and patient engagement.

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

SOURCE Sphere