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R1 RCM Inc. (NASDAQ: RCM) is a distinguished leader in the field of revenue cycle management, serving hospitals, health systems, and physician groups throughout the United States. Leveraging cutting-edge technology, R1 RCM Inc. provides comprehensive solutions designed to enhance the financial performance and patient experience for healthcare providers.
Founded with a mission to streamline healthcare operations, R1 RCM's suite of services includes end-to-end revenue cycle management, technology-driven solutions, and process workflows aimed at improving operating margins, cash flows, and overall satisfaction among patients, physicians, and staff. The company’s technology solutions seamlessly integrate with healthcare providers' existing infrastructure, resulting in sustainable improvements in net patient revenue and operational efficiency.
In recent developments, R1 RCM Inc. reported preliminary financial results for the fourth quarter of 2023, anticipating revenues between $563 to $567 million, marking a 6 to 6.5 percent increase compared to the previous year. This growth is primarily driven by double-digit increases in modular revenue, despite some delays in new client transitions and lower incentive fees. The company also anticipates an operating income of $36 to $39 million and a net loss of $8 to $10 million, with an adjusted EBITDA ranging from $163 to $166 million.
R1 recently completed the acquisition of Acclara from Providence, one of the nation’s largest health systems, establishing a 10-year partnership that is expected to significantly enhance the company’s revenue cycle services. This acquisition is projected to contribute over $625 million in revenue and approximately $185 million to adjusted EBITDA within five years.
R1 RCM's commitment to innovation is evident in its recent advancements through generative AI, and its environmental, social, and governance (ESG) efforts, which align with the United Nations Sustainable Development Goals. The company's 2023 ESG report showcases numerous achievements, underlining its dedication to responsible global citizenship and sustainable business practices.
For further information and updates, visit the company’s official website at r1rcm.com.
R1 RCM has completed its previously announced acquisition by TowerBrook Capital Partners and Clayton, Dubilier & Rice in a transaction valued at approximately $8.9 billion. The deal, which was first announced on August 1, 2024, involved purchasing all outstanding shares at $14.30 per share in cash. Following the acquisition, R1 RCM has become a private company and ceased trading on Nasdaq. Joe Flanagan has been reappointed as CEO, replacing Lee Rivas. Flanagan, who previously served as CEO from 2016 to 2023, brings over 20 years of management experience and will focus on driving operational excellence and technology leadership.
R1 RCM (NASDAQ:RCM) will be removed from the S&P MidCap 400 index, effective prior to market opening on November 20, 2024. This change comes as a result of the company's pending acquisition by TowerBrook Capital Partners and Clayton, Dublier & Rice, expected to complete around November 19. Shift4 Payments (NYSE:FOUR) will replace R1 RCM in the index. The transition marks R1 RCM's departure from the Healthcare sector of the S&P MidCap 400, while Shift4 Payments will join as part of the Financials sector.
R1 RCM reported its Q3 2024 financial results with revenue of $656.8 million, representing a 14.7% increase year-over-year. The company posted a GAAP net loss of $19.9 million, compared to net income of $1.3 million in Q3 2023. Adjusted EBITDA decreased to $148.2 million from $161.5 million in the same period last year. The quarter's performance was impacted by vendor and customer technology outages. Due to a previously announced proposed acquisition, R1 RCM is not providing financial guidance.
R1 RCM Inc. (NASDAQ: RCM) reported its Q2 2024 results, showing revenue of $627.9 million, up 12.0% year-over-year. The company posted a GAAP net loss of $7.6 million, compared to a $1.0 million loss in Q2 2023. Adjusted EBITDA reached $156.1 million, up from $142.9 million last year. The quarter was impacted by recent vendor and customer outages.
Notably, R1 announced a definitive agreement to be acquired by TowerBrook Capital Partners and Clayton, Dubilier & Rice in an all-cash transaction valued at $14.30 per share. Upon completion, R1 will become a private company and delist from Nasdaq. The deal is expected to close by year-end, subject to stockholder and regulatory approvals.
R1 RCM Inc. (NASDAQ: RCM), a leading healthcare technology solutions provider, has announced its acquisition by TowerBrook Capital Partners and Clayton, Dubilier & Rice (CD&R) in an all-cash transaction valued at $8.9 billion. Stockholders will receive $14.30 per share, representing a 29% premium to the company's unaffected closing price on February 23, 2024. The deal, unanimously approved by a special committee of R1's Board, is expected to close by year-end, subject to stockholder and regulatory approvals. Upon completion, R1 will become a private company, delisting from Nasdaq.
TowerBrook, currently owning about 36% of R1's outstanding shares, will partner with CD&R to acquire the remaining stock. The acquisition aims to further invest in R1's core operations and build its leadership in intelligent automation and GAI in revenue management for healthcare providers.
The Special Committee of R1 RCM Inc. (NASDAQ: RCM) has set a final deadline of July 31, 2024 for interested parties to submit fully-financed bids as part of its strategic alternatives evaluation. This process was initiated in response to a Schedule 13D/A filing by New Mountain Capital on February 26, 2024. The committee, comprising independent directors, is considering all options, including maintaining R1's current public company status and strategic plan.
The company has engaged Qatalyst Partners and Barclays as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP as legal counsel. R1 RCM emphasizes that no assurances can be given regarding the outcome or timing of this review process and does not intend to make further public comments unless a specific course of action is approved.
R1 RCM Inc. (NASDAQ: RCM), a leading provider of technology-driven healthcare solutions, has announced its plans to release second quarter 2024 financial results on August 7, 2024, before the market opens. The company will host a conference call at 8:00 a.m. ET on the same day to discuss the results. Investors and interested parties can join the call by dialing 888-596-4144 (or 646-968-2525 for those outside the U.S. and Canada) using the conference code 9123341. A live webcast and replay of the call will be available on the company's website at r1rcm.com in the Investor Relations section.
R1 RCM (NASDAQ: RCM), a leader in technology-driven solutions for healthcare, will host a virtual event on June 27, 2024, at 11:00 AM ET. The event, titled “Technology Teach-In: A Deep Dive into Key Focus Areas and the R1 Platform,” will be presented by Steve Albert, Executive VP and Chief Product Officer, and Brian Gambs, Executive VP and Chief Technology Officer. They will discuss the R1 Platform, highlight key innovations, and reveal R1's future technology roadmap. The presentation will conclude with a live Q&A session. A live audio webcast and a 90-day replay will be available on the Investor Relations section of R1’s website.
R1 RCM, a leading provider of technology-driven healthcare solutions, announced its participation in the 2024 Jefferies Global Healthcare Conference. The presentation is scheduled for June 5, 2024, at 10:30 am ET. Interested parties can access a live audio webcast of the event through the Investor Relations section of R1's website. A replay of the webcast will be available for 90 days post-event.
R1 RCM Inc. reported its First Quarter 2024 Results showcasing a revenue of $603.9 million, a 10.7% increase compared to the same period last year. Despite a GAAP net loss of $35.1 million, the Company had an Adjusted EBITDA of $152.2 million. The results were affected by the Change Healthcare cyberattack and a modular customer bankruptcy. The CEO, Lee Rivas, highlighted the company's technology platform and global scale. The updated outlook for 2024 includes revenue expectations of $2.60 billion to $2.64 billion, GAAP operating income of $85 million to $105 million, and Adjusted EBITDA of $625 million to $650 million.
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