Healthcare IT Today September 16, 2022
Capital One Commercial Bank, a full-service bank with middle market specialization in many industries, including over 40 healthcare sub-sectors, announced today it served as a joint lead arranger for an amended and restated credit facility for R1 RCM. The borrower is a leading provider of technology-driven revenue cycle management (RCM) solutions for the healthcare industry.
R1 RCM used the facility, which increased its borrowing capacity from $1.2 billion to $2.3 billion, to purchase Cloudmed, an industry-leading revenue intelligence platform, and to refinance that company’s existing debt. Capital One also served as joint lead arranger when R1’s facility was created in 2019 and supported successive incremental increases in 2020 and 2021.
“We believe that R1 RCM’s acquisition of Cloudmed gives R1...
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