What You Should Know:
– Capital One Commercial Bank just announced it served as a joint lead arranger for an amended and restated credit facility for R1 RCM, a leading provider of technology-driven revenue cycle management (RCM) solutions for the healthcare industry.
– This $2.3 billion financing will help RI RCM tackle the industry’s labor and reimbursement challenges and help healthcare provider organizations reduce costs, increase revenue, and improve the patient experience.
Financing Details
R1 RCM used the facility, which increased its borrowing capacity from $1.2 billion to $2.3 billion, to purchase Cloudmed, an industry-leading revenue intelligence platform, and to refinance that company’s existing debt. Capital One also served as joint lead arranger when R1’s facility was created in 2019 and supported successive incremental increases in 2020 and 2021. Highlights of the deal include:
– The facility increased R1 RCM’s borrowing capacity from $1.2 billion to $2.3 billion
– The $2.3 billion facility includes a $600 million revolving line of credit, a $1.2 billion term loan and a $500 million term loan B.
– Capital One served as a joint lead arranger when R1’s facility was created in 2019 and supported successive incremental increases in 2020 and 2021.
