From two firms clsoing a deal to take R1 RCM private to Arsenal Capital Partners signing an agreement to acquire Knowtion Health, here are six private equity-related revenue cycle management company moves that Becker's has reported since Aug. 1:
1. TowerBrook Capital Partners and Clayton, Dubilier & Rice completed their $8.9 billion acquisition of R1 RCM. ith the completion of the transaction, R1's common stock has ceased trading and will no longer be listed on Nasdaq. With the closing of the deal, Joe Flanagan has reassumed the role of CEO, replacing Lee Rivas. Mr. Flanagan served as R1's CEO from May 2016 through January 2023.
2. Patient Square Capital signed a definitive agreement for a strategic investment in revenue cycle management company CorroHealth. The transaction is expected to close by the end of 2024, with Patient Square Capital sharing joint control of the company with private equity firm Carlyle.
3. PAccel-KKR acquired revenue cycle management company VisiQuate.
4. Swedish private equity firm EQT is acquiring a controlling interest in RCM company GeBBS Healthcare Solutions from ChrysCapital. The transaction is expected to close in the fourth quarter of 2024.
5. New Mountain Capital completed the merger of three payment integrity companies. The Rawlings Group, Apixio's payment integrity business, and Varis are the companies being combined.
6. Arsenal Capital Partners signed a definitive agreement to acquire Knowtion Health.