R1 RCM Special Committee Provides Update on Evaluation of Strategic Alternatives
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.
Il Comitato Speciale di R1 RCM Inc. (NASDAQ: RCM) ha fissato una scadenza finale del 31 luglio 2024 per le parti interessate che desiderano presentare offerte completamente finanziate nell'ambito della valutazione delle alternative strategiche. Questo processo è stato avviato in risposta a un deposito di Schedule 13D/A da parte di New Mountain Capital il 26 febbraio 2024. Il comitato, composto da amministratori indipendenti, sta prendendo in considerazione tutte le opzioni, compresa la possibilità di mantenere lo stato attuale di società pubblica di R1 e il piano strategico.
L'azienda ha coinvolto Qatalyst Partners e Barclays come consulenti finanziari e Skadden, Arps, Slate, Meagher & Flom LLP come consulenti legali. R1 RCM sottolinea che non possono essere date garanzie riguardo ai risultati o ai tempi di questo processo di revisione e non intende rilasciare ulteriori commenti pubblici a meno che non venga approvato un corso d'azione specifico.
El Comité Especial de R1 RCM Inc. (NASDAQ: RCM) ha establecido una fecha límite final del 31 de julio de 2024 para que las partes interesadas presenten ofertas completamente financiadas como parte de su evaluación de alternativas estratégicas. Este proceso se inició en respuesta a un depósito de Schedule 13D/A por parte de New Mountain Capital el 26 de febrero de 2024. El comité, compuesto por directores independientes, está considerando todas las opciones, incluida la posibilidad de mantener el estado actual de empresa pública de R1 y su plan estratégico.
La empresa ha contratado a Qatalyst Partners y Barclays como asesores financieros y a Skadden, Arps, Slate, Meagher & Flom LLP como asesoría legal. R1 RCM enfatiza que no se pueden dar garantías sobre el resultado o el cronograma de este proceso de revisión y no tiene la intención de hacer más comentarios públicos a menos que se apruebe un curso de acción específico.
R1 RCM Inc. (NASDAQ: RCM)의 특별 위원회는 전략 대안 평가의 일환으로 이해관계자들이 완전히 자금 지원된 입찰을 제출할 최종 마감일을 2024년 7월 31일로 설정했습니다. 이 과정은 뉴 마운틴 캐피탈이 2024년 2월 26일에 제출한 Schedule 13D/A 서류에 대한 응답으로 시작되었습니다. 독립 이사들로 구성된 위원회는 R1의 현재 공기업 상태 및 전략 계획을 유지하는 것을 포함한 모든 옵션을 고려하고 있습니다.
회사는 Qatalyst Partners와 Barclays를 재정 고문으로, Skadden, Arps, Slate, Meagher & Flom LLP를 법률 상담사로 참여시켰습니다. R1 RCM은 이 검토 과정의 결과나 일정에 대해서는 어떤 보장도 할 수 없으며, 특정 행동 과정이 승인되지 않는 한 추가적인 공개 코멘트를 할 의도가 없음을 강조합니다.
Le Comité Spécial de R1 RCM Inc. (NASDAQ: RCM) a fixé une date limite finale au 31 juillet 2024 pour que les parties intéressées soumettent des offres entièrement financées dans le cadre de son évaluation des alternatives stratégiques. Ce processus a été lancé en réponse à un dépôt de Schedule 13D/A par New Mountain Capital le 26 février 2024. Le comité, composé de directeurs indépendants, envisage toutes les options, y compris le maintien du statut actuel d'entreprise publique de R1 et de son plan stratégique.
L'entreprise a engagé Qatalyst Partners et Barclays comme conseillers financiers et Skadden, Arps, Slate, Meagher & Flom LLP comme conseils juridiques. R1 RCM souligne qu'aucune garantie ne peut être donnée quant au résultat ou au calendrier de ce processus de révision et n'a pas l'intention de faire d'autres commentaires publics à moins qu'un cours d'action spécifique ne soit approuvé.
Der Sonderausschuss von R1 RCM Inc. (NASDAQ: RCM) hat eine Frist bis zum 31. Juli 2024 gesetzt, damit interessierte Parteien vollständig finanzierte Angebote im Rahmen der Bewertung strategischer Alternativen einreichen können. Dieser Prozess wurde als Reaktion auf eine Einreichung von Schedule 13D/A durch New Mountain Capital am 26. Februar 2024 initiiert. Der Ausschuss, der aus unabhängigen Direktoren besteht, prüft alle Optionen, einschließlich der Beibehaltung des aktuellen öffentlichen Status von R1 und des strategischen Plans.
Das Unternehmen hat Qatalyst Partners und Barclays als Finanzberater und Skadden, Arps, Slate, Meagher & Flom LLP als rechtlichen Berater engagiert. R1 RCM betont, dass keine Garantien hinsichtlich des Ergebnisses oder des Zeitplans dieses Überprüfungsprozesses gegeben werden können und dass das Unternehmen nicht beabsichtigt, weitere öffentliche Kommentare abzugeben, es sei denn, es wird ein konkreter Maßnahmenkurs genehmigt.
- R1 RCM is actively exploring strategic alternatives, potentially enhancing shareholder value
- The company has set a clear deadline for bids, indicating a structured and time-bound process
- Engagement of reputable financial and legal advisors suggests a thorough evaluation process
- Uncertainty surrounding the outcome of the strategic review process may impact stock volatility
- The company's future direction remains unclear, potentially affecting investor confidence
Sets Final Bid Deadline of July 31, 2024
MURRAY, Utah, July 24, 2024 (GLOBE NEWSWIRE) -- The Special Committee of the R1 RCM Inc. (NASDAQ: RCM) (“R1” or the “Company”) Board of Directors, which comprises independent directors and was formed to evaluate strategic alternatives in response to the Schedule 13D/A filed by New Mountain Capital, L.L.C. (“New Mountain Capital”) with the Securities and Exchange Commission on February 26, 2024, today announced it has set a final deadline for interested parties to submit fully-financed bids on July 31, 2024 in connection with its review process.
No assurances can be given regarding the outcome or timing of the Special Committee’s review process. The Special Committee continues to evaluate all alternatives for R1, including continued execution of its strategic plan as a public company. R1 does not intend to make any further public comment regarding the review unless and until it has approved a course of action for which further disclosure is appropriate.
Advisors to the Special Committee include Qatalyst Partners and Barclays as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP as legal counsel.
About R1 RCM
R1 is a leading provider of technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. R1’s proven and scalable operating models seamlessly complement a healthcare organization’s infrastructure, quickly driving sustainable improvements to net patient revenue and cash flows while reducing operating costs and enhancing the patient experience. To learn more, visit: r1rcm.com.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release are forward-looking statements. Such forward-looking statements include statements regarding the review to be conducted by the Special Committee and the outcome and timing of the review process. Such forward-looking statements are based on management’s current expectations about future events as of the date hereof and involve many risks and uncertainties that could cause the Company’s actual results to differ materially from those expressed or implied in its forward-looking statements. Subsequent events and developments, including actual results or changes in the Company’s assumptions, may cause the Company’s views to change. The Company does not undertake to update its forward-looking statements except to the extent required by applicable law. Readers are cautioned not to place undue reliance on such forward-looking statements. All forward-looking statements included herein are expressly qualified in their entirety by these cautionary statements. The Company’s actual results and outcomes could differ materially from those included in these forward-looking statements as a result of various factors, including, but not limited to, the outcome and timing of the review process, which may be suspended or modified at any time; the possibility that the Special Committee may decide not to undertake a strategic alternative following the review process; the Company’s inability to consummate any proposed strategic alternative resulting from the review due to, among other things, market, regulatory and other factors; the potential for disruption to our business resulting from the review process; potential adverse effects on the Company’s stock price from the announcement, suspension or consummation of the review process and the results thereof; and the factors set forth under the heading “Risk Factors” in the Company’s most recent annual report on Form 10-K, and any other periodic reports that the Company may file with the U.S. Securities and Exchange Commission.
Contacts:
Investor Relations:
Evan Smith, CFA
516-743-5184
investorrelations@r1rcm.com
Media Contact:
Josh Blumenthal
media@r1rcm.com
FAQ
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