US-based interpreting provider GLOBO has completed not one but two acquisitions in 2023 so far. Both acquisitions, of All Access Interpreters (AAI) and LUNA Language Services, closed on March 31, 2023. However, the LUNA acquisition was only made public in June.
The financial details of the transactions have not been disclosed.
GLOBO’s primary focus is supporting the limited English-proficient (LEP) population in the US to access healthcare — which accounts for the majority of GLOBO’s revenues — as well as financial services, technology, education, and public services.
On-demand interpreting specialist GLOBO was founded in 2009 and scaled its revenues to USD 36.2m in 2022 through services such as phone (OPI), video remote (VRI), onsite, and sign language interpreting. The company also secured growth investment from VSS Capital Partners in late 2021.
GLOBO’s CEO, Dipak Patel, told Slator that the addition of AAI and LUNA will help GLOBO expand its onsite interpreting and ASL offerings. Patel took over the reins as CEO from the company’s now Chairman, Gene Schriver, in January 2023.
AAI is a provider of onsite interpreting in Missouri and shares GLOBO’s “customer-centric approach and expertise in healthcare,” Patel said. Meanwhile, LUNA is an Indianapolis-based language service provider (LSP), founded in 2001, with a significant focus on language access, including ASL, and healthcare.
Patel pointed out that LUNA and GLOBO combined “have one of the largest ASL interpreter networks in the United States.” There is also an “opportunity to grow the supply of ASL linguists, improve access for the Deaf and Hard of Hearing population, and augment GLOBO’s language access consulting and interpreting training programs,” he said.
Separate news coverage from the Indianapolis Business Journal said LUNA generated USD 15.5m in revenues in 2022 and had engaged investment banking firm Periculum Capital to look for potential buyers for its business.
A Balanced Portfolio of Services
Customers of AAL and LUNA will be able to access GLOBO’s audio and video interpreting solutions as well as the company’s technology integrations. GLOBO also offers a data platform, GLOBO HQ, which provides language management to accompany the patient experience and customer journey.
With remote interpreting demand having spiked during the pandemic, Patel said, “onsite interpreting demand has returned and exceeded pre-pandemic levels at GLOBO.” Moreover, the acquisitions of LUNA and AAI have led to “an even more balanced portfolio of onsite vs. remote business,” he added.
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Patel also shared his view on what motivates users to choose onsite over remote, or vice versa: “As technology supporting quality VRI experiences continues to advance, we believe that onsite encounters will continue to be best practice and patient-preferred in certain encounters along the patient journey,” he said. On the other hand, “some encounters that seem best-served by onsite may actually provide better patient and provider experiences via video.”
The CEO said GLOBO’s vision of the future of language access in healthcare includes “a balanced mix of services [spanning] virtual interpreting, translation, and integrations into existing and emerging technologies.” He added, “A large piece of that future is ensuring all of these services are more accessible and visible to clinicians.”