Deal Details

RI RCM Completes $388 Million Follow-On Offering

Healthcare

R1 RCM follow-on offering

Summary

R1 RCM Inc. (“R1 RCM” or the “Company”) (NASDAQ: RCM) recently completed an underwritten follow-on offering of 17,250,000 shares of its common stock, which includes the full exercise of the underwriters’ option to purchase 2,250,000 additional shares of common stock. The shares were sold at a public offering price of $22.50 per share, generating gross proceeds of $388.1 million. The selling stockholders were TCP-ASC ACHI Series LLLP, a Delaware series limited liability limited partnership jointly owned by Ascension Health Alliance ("Ascension") and investment funds affiliated with TowerBrook Capital Partners L.P. ("TowerBrook)", and Joseph Flanagan, the President and Chief Executive Officer. R1 RCM did not sell any shares in the offering or receive any of the proceeds from the sale of common stock by the selling stockholders.

Baird served as a co-manager on this offering.

About

R1 RCM is a leading provider of technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. R1 RCM’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. R1 RCM is headquartered in Chicago, Illinois.

Ascension Health Alliance (doing business as Ascension) is a faith-based healthcare organization dedicated to transformation through innovation across the continuum of care. As one of the leading non-profit and Catholic health systems in the United States, Ascension is committed to delivering compassionate, personalized care to all, with special attention to persons living in poverty and those most vulnerable.

TowerBrook Capital Partners L.P. is an investment management firm that has raised in excess of $17.4 billion to date and has a history of creating value for investors. TowerBrook is co-headquartered in New York, New York and London, the United Kingdom and focuses on making investments in companies headquartered in North America and Europe. TowerBrook's private equity strategy primarily pursues control-oriented investments in large and mid-market companies, principally on a proprietary basis and often in situations characterized by complexity.

Healthcare

R1 RCM follow-on offering