A group of R1 RCM investors is weighing whether to take the revenue cycle management company private, Bloomberg reported Feb. 26.
Private equity firm New Mountain Capital and TCP-ASC — an investment vehicle jointly owned by TowerBrook Capital Partners and Ascension Health Alliance — have been in talks about a number of options for R1 RCM according to the report. Those options include a potential cash offer of $13.75 per share for all R1's outstanding stock.
New Mountain owns 32.4% of R1 and TowerBrook owns 29.6%, according to the report. R1 has a market value of about $4.7 billion.
An R1 RCM spokesperson told Becker's in a Feb. 27 statement: "We confirm we received a letter from New Mountain Capital requesting a waiver of the standstill restrictions contained in the investor rights agreement, which attached a form of proposal to acquire all of the outstanding shares of common stock of the company. R1 is committed to doing what is best for our shareholders, customers, and associates. We remain focused on providing our customers with world-class revenue cycle solutions to help providers improve their financial performance and deliver an exceptional patient experience."