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The Philippine Long Distance Telephone Co. (PLDT)  has acquired the Laguna Medical Systems Inc. (LMS) for $8.25 million (approx P400 million), expanding its foray into the business process outsourcing (BPO) sector. PLDT said the acquisition was made by SPi Global Solutions, a leading BPO company which is a unit of its wholly owned information and communications technology company ePLDT Inc.

LMS is a 22-year old company with over 50 consultants across the region who assist more than 200 hospitals attain coding and billing compliance as well as optimize entitled reimbursement for patient services. It also offers recovery audit contractor (RAC) defense and recovery services to help healthcare providers manage and defend RAC audits.

SPi president Peter Maquera said, “As a result of the significant focus on healthcare reform in the US, we have been actively tracking companies in the coding compliance space with the goal of finding one to acquire whose corporate culture and values match our own.”

He added, “LMS fits the bill. Their capabilities nicely complement our existing medical transcription, billing and revenue cycle management services and provide an excellent new entry point for us into this rapidly growing $25 billion industry.”

With LMS’ product offerings being included in their list, SPi’s relationship with more than 400 hospitals, multi-specialty clinics and physician practices would be strengthened. “And it increases our healthcare-specific employee base to more than 2,000 worldwide,” Maquera said.

ePLDT president Ray Espinosa said, “SPi’s acquisition of LMS is an excellent example of how we are executing on our strategic plan to accelerate growth and strengthen our position in the BPO arena.”