R1 RCM, a revenue cycle management services provider, completed its acquisition of Intermedix Corp. for approximately $460 million, according to a May 8 release.
Here are five things to know.
1. Intermedix serves more than 15,000 U.S. healthcare providers, including physicians in hospitals and other healthcare settings, through its RCM, practice management and data analytics services.
2. With the transaction, R1 acquired Intermedix's healthcare division but not the Intermedix emergency preparedness division, which is slated to turn into an independent company.
3. The newly combined company manages $28 billion of annual net patient revenue for customers and has nearly 1,000 clients nationwide, according to the release.
4. R1 said it expects to eventually integrate Intermedix technology into its solutions offering.
5. Joseph Flanagan, president and CEO of R1, said of the deal: "With the completion of this transaction, we continue our relentless focus on servicing our customers and delivering on their needs. We believe the integration of Intermedix into R1 will enable our health system and physician practice partners to more easily connect revenue cycle operations across all points of care, improving revenues and reducing costs while improving the patient and physician experience."
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