R1 RCM jumps after health tech co to be taken private in $8.9 bln deal

R1 RCM

01/08/2024 13:26

** Shares of healthcare technology company R1 RCM  RCM.O 
rise 9.2% to ~$14 in premarket trading
    ** Co entered into an agreement to be acquired by private
equity firms TowerBrook Capital Partners and Clayton, Dubilier &
Rice (CD&R) in a deal worth $8.9 bln, including debt
    ** Upon completion of the transaction, expected to close by
the year end, RCM will become a private company and its shares
will no longer trade on Nasdaq
    ** The PE firms will acquire remaining shares of R1 RCM that
TowerBrook does not currently own for $14.30/share
    ** RCM provides services for billing and revenue collection
to hospitals, physician groups and other healthcare
organizations
    ** As of last close, stock up about 22% so far this year

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))