Everise Bags CGS’ Healthcare Division and 8,000 Employees

Everise acquired the healthcare division of Continuum Global Solutions (CGS), which belongs to equity firm Skyview Capital.

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

Over 8,000 CGS employees will join Everise once the transaction draws to a close.

Founded in 2018, CGS has grown rapidly. It operates in 12 countries, including Jamaica, Mexico, the Dominican Republic, Argentina and Colombia.

Despite being less than six years old, CGS has already acquired three smaller competitors. Just a year after its founding, it purchased Brooklyn-based King TeleServices. This was followed by the acquisition of customer care assets from Conduent Incorporated. In September 2023, CGS added Faneuil Inc. to its portfolio, a BPO company specializing in public utilities, government and healthcare services.

Currently, CGS employs more than 15,000 people. Over half will move to Everise.

Led by industry veteran Sudhir Agarwal, Everise reached a valuation of US$1 billion in 2023. The company has strategically focused on expanding in the healthcare sector, particularly in the US, where the Affordable Care Act has created a thriving market for BPO services.