R1 RCM (NASDAQ: RCM) has agreed to be acquired by investment funds affiliated with TowerBrook Capital Partners and Clayton, Dubilier & Rice (CD&R), according to a news release.
The all-cash transaction has an enterprise value of approximately $8.9 billion.
R1, founded in 2003 and based in Murray, Utah, is a revenue cycle management company servicing hospitals, health systems and physician groups across the United States.
TowerBrook, founded in 2001 and with its U.S. operations based out of New York, is an investment management firm that invests in private equity, structured opportunities and impact opportunities through its family of funds in several different sectors, including healthcare.
CD&R, founded in 1978 and with its U.S. operations based out of New York, is a private investment firm that targets businesses in a broad range of industries, including healthcare. The firm pursues several different types of investments in North America and Western Europe, and other regions for portfolio company add-ons.
