R1 RCM Reacquires Privacy: Joe Flanagan Returns as CEO

R1 RCM Inc., a company specialized in automating revenue management for healthcare providers, has become privately held following a significant acquisition. Investment funds associated with TowerBrook Capital Partners and Clayton, Dubilier & Rice (CD&R) finalized their announced acquisition of the company, valuing R1 RCM at approximately $8.9 billion. The transaction involved the purchase of all R1 outstanding shares not already owned by TowerBrook at $14.30 per share. Consequently, R1's common stock has ceased trading on Nasdaq, and the company plans to suspend its periodic reporting obligations with the U.S. Securities and Exchange Commission. Joe Flanagan has been reappointed as Chief Executive Officer, replacing Lee Rivas. Flanagan's tenure with the company dates back to April 2013, and he remains on the Board of Directors. His leadership is expected to focus on operational excellence, technology advancement, and client value creation. Flanagan acknowledged the contributions of his predecessor and expressed optimism about the company's direction under the new ownership. The acquisition emphasizes R1 RCM's standing as a leading revenue management platform in the healthcare sector, utilizing advanced automation technologies. The involvement of TowerBrook and CD&R is anticipated to further innovation and enhance the company's ability to deliver value to its partners.