R1 RCM gains, co grants waiver to some shareholders

R1 RCM

08/05/2024 15:43

** Shares of healthcare revenue management firm R1 RCM
 RCM.O  rise 4.5% to $12.80
    ** Late on Tuesday, TCP-ASC and New Mountain Capital
disclosed RCM has permitted them to work together to make a
joint proposal to acquire all of co's outstanding shares
    ** In February, a group of RCM's investors led by New
Mountain submitted a take-private proposal to acquire shares of
the company for a proposed price of $13.75/shr in cash
    ** Earlier, the investors said RCM is discussing the
proposal and there is no final agreement on terms
    ** TCP-ASC says discussions between the parties on a
potential deal must end on June 13, unless another waiver is
provided
    ** RCM reports Q1 revenue of $603.9 mln vs est $611.9 mln -
LSEG
    ** As of last close, stock up 17.8% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))