R1 RCM plans to sell its emergency medical services business to Sarnova Holdings for $140 million, the revenue cycle management provider said July 20.
Under the deal, expected to close in the third quarter of 2020, Sarnova will take over R1 RCM's EMS business, including its EMS revenue cycle management and electronic patient care reporting services.
Sarnova is a distributor of healthcare products in the EMS and acute care markets.
"The sale of the EMS business aligns with our strategic vision and focus on delivering best-in-class revenue cycle management solutions that will help health systems and physician groups improve both financial performance and patient experience," said Vijay Kotte, executive vice president of physician services at R1. "We are confident that Sarnova is the right home for the EMS business and know they have the expertise to further grow and develop industry-leading solutions for this market."