TowerBrook Capital Partners and Clayton Dubilier & Rice (CD&R) have agreed to take R1 RCM Inc. private in a transaction valued at approximately $8.9 billion, the healthcare tech provider announced Thursday.
R1 RCM $8.9B Deal : Legal Advisers on the Deal
Four law firms are serving as principal advisers. Kirkland & Ellis LLP is representing R1, while Skadden Arps Slate Meagher & Flom LLP is advising a special committee of its board. Wachtell Lipton Rosen & Katz is advising TowerBrook, and Debevoise & Plimpton LLP is guiding CD&R.
R1 RCM $8.9B Deal : Acquisition Details
TowerBrook and CD&R will acquire all outstanding common stock of R1 that TowerBrook does not already own for $14.30 per share. Currently, TowerBrook owns about 36% of R1’s outstanding shares.
R1, which provides revenue cycle management to hospitals, health systems, and physician groups across the U.S., said its board has approved the transaction. The company expects the deal to close by the end of the year, pending stockholder and regulatory approvals.