What You Should Know:
– R1 RCM Inc. (NASDAQ: RCM), a provider of healthcare revenue cycle management solutions, announced the formation of a special committee comprised solely of independent directors.
– The new committee will evaluate strategic options for the company in response to a recent $5.8B buy-out offer from private equity firm New Mountain Capital.
Responding to New Mountain Capital
On February 26, 2024, New Mountain Capital filed a Schedule 13D/A with the Securities and Exchange Commission (SEC). This filing indicates that New Mountain Capital has acquired a significant stake in R1 RCM. In response to this development, R1 RCM has formed the special committee to explore strategic alternatives that could maximize shareholder value.
Focus on Open Communication and Evaluating Options
The company emphasizes its commitment to open communication with all stockholders. The special committee will carefully consider any input received from shareholders as they evaluate the options presented by New Mountain Capital.
Independent Review Focused on Shareholder Value
Comprised solely of independent directors, the special committee will act in the best interests of R1 RCM and its shareholders. They will review all potential options with the help of independent advisors to determine the best course of action.
Business Continuity and No Public Speculation
R1 RCM assures its clients that they remain focused on providing exceptional revenue cycle solutions and helping healthcare providers improve their financial performance and patient experience. The company will not comment further on the review process until a definitive course of action is determined and requires public disclosure.
Timeline for Decision
The announcement does not provide a specific timeframe for the special committee’s review process. Investors should be aware that the committee’s decision could take some time.
