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Health Populi December 18, 2024
TowerBrook, CD&R take health tech company R1 RCM private in $8.9B deal
Fierce Healthcare August 1, 2024
R1 RCM, a company that provides revenue cycle and billing services to hospitals, will be acquired for $8.9 billion and taken private.
Investment funds tied to TowerBrook Capital Partners and Clayton, Dubilier & Rice will pay $14.30 per share in cash for the company, the health tech company said in a press release Thursday.
TowerBrook already has a 36% stake in the company, according to the press release.
In late February, private equity firm New Mountain Capital, R1’s largest shareholder, made a buyout proposal that valued the company at nearly $6 billion.
TowerBrook and CD&R’s proposed purchase price is a 29% premium to the company’s closing price before New Mountain’s interest became public, the company said in a press release.
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