PE firm New Mountain values R1 RCM at nearly $6 bln in take-private deal (updated)

R1 RCM

03/07/2024 20:24

(Changes sourcing and adds background throughout)
       July 3 (Reuters) - Private-equity firm New Mountain
Capital has submitted a buyout proposal for healthcare services
provider R1 RCM  RCM.O  in an all-cash deal, valuing the company
at nearly $6 billion as per a filing on Tuesday. 
        New Mountain Capital submitted an all-cash proposal to
acquire all of the Utah-based company's outstanding shares it
does not already own for a proposed price of $13.25 apiece.
  
        R1 RCM did not immediately respond to a Reuters request
for comment. 
  
        In February, a group of R1 RCM's investors led by New
Mountain had 
    submitted a draft proposal
     to acquire all of the company's outstanding shares not
owned by the investors for a proposed price of $13.75 per share
in cash. 
  
        New Mountain, however, said on July 1 that it was no
longer interested in the joint proposal for the take-private
deal. 
  
        The current valuation of the healthcare service provider
stands at $4.59 billion, as per LSEG. Its shares have gained a
little over 5% so far this year. 
  
        According to the filing, R1 RCM has not provided any
response to the private equity firm. 
  
        
  
    

 (Reporting by Pritam Biswas in Bengaluru; Editing by Krishna
Chandra Eluri and Alan Barona)
 ((Pritam.Biswas@thomsonreuters.com;))