The ConJoin Group has acquired PHNS, a provider of health IT and business services, for $250 million.
PHNS provides health IT and business process systems spanning data centers, help desk, telephony, clinical transformation, audits and secure health information management. As a combined entity, the ConJoin Group and PHNS will deliver integrated systems under the PHNS name.
The new PHNS will ramp up product offerings and expand its scope and influence in the health IT market. PHNS will leverage ConJoin’s delivery model to automate and replicate digital tasks to achieve operational efficiencies in product development, maintenance and support. ConJoin maintains operations in Boston, Toronto, Dallas and its centers of excellence in Mumbai.
Recent U.S. legislation has increased pressure on healthcare providers to improve, upgrade and modernize IT standards nationwide. The combined capability provided by the new PHNS will accelerate the adoption of IT and business services for hospitals and healthcare providers.
Actis private equity firm backed the investment. The Conjoin Group and Actis were advised by Jefferies, Clifford Chance, Hunton & Williams and Duff & Phelps. PHNS was advised by William Blair and Jones Day.