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News » Everise expands global footprint with CGS Healthcare Division acquisition

Everise expands global footprint with CGS Healthcare Division acquisition

FLORIDA, UNITED STATES — Everise, a global customer experience solutions provider, has announced the acquisition of Continuum Global Solutions’ (CGS) healthcare division from private equity firm Skyview Capital. 

This strategic move is set to expand Everise’s healthcare capabilities and global presence significantly.

Acquisition details and workforce impact

This deal, which is subject to regulatory approvals, will see over 8,000 CGS employees joining the Everise workforce. This acquisition will bring Everise’s total employee count to more than 28,000 across eight countries, further solidifying its position as a major player in the customer experience industry.

Enhancing healthcare expertise

The acquisition enhances Everise’s capabilities in pharmacy benefit management and broadens its customer base to include healthcare payers, specialty clinics, and retail pharmacy businesses. 

This expansion will also allow Everise to offer a more comprehensive suite of healthcare services to clients across the United States.

“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,” said Sudhir Agarwal, Founder & CEO of Everise.

“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.”

Global expansion and market impact

Founded in 2016, Everise has experienced rapid growth, reaching a valuation of $1 billion in 2023. It has built its business by providing a wide array of customer service solutions, focusing particularly on healthcare and customer experiences. 

Meanwhile, CGS, established in 2018, has experienced rapid growth and operates in 12 countries, including Jamaica, Mexico, the Dominican Republic, Argentina, and Colombia. The company has made several acquisitions of its own, including Brooklyn-based King TeleServices and customer care assets from Conduent Incorporated.

Industry implications

The U.S. healthcare market has experienced substantial growth following the Affordable Care Act. Everise’s expansion through this acquisition positions the company to capitalize on these opportunities and offer enhanced services to a broader range of healthcare clients.

By combining Everise’s existing expertise with CGS’s healthcare division, the company aims to accelerate its journey as a global healthcare BPO leader. This move is expected to create a competitive advantage in the rapidly evolving healthcare services market.

Future outlook 

Naeem Arastu, Partner & COO of Skyview Capital, the equity firm that owns CGS, commented on the deal: “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.”

As the healthcare industry continues to evolve, this acquisition positions Everise to play a significant role in shaping the future of customer experience solutions in the healthcare sector. The combined expertise and resources of Everise and CGS’s healthcare division are expected to drive innovation and improve service delivery for healthcare clients and their customers alike.

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