M&A Deal Summary

R1 RCM Acquires Cloudmed

On January 10, 2022, R1 RCM acquired internet software and services company Cloudmed from New Mountain Capital for 4.1B USD

Acquisition Highlights
  • This is R1 RCM’s 2nd transaction in the Internet Software and Services sector.
  • This is R1 RCM’s largest (disclosed) transaction.
  • This is R1 RCM’s 5th transaction in the United States.
  • This is R1 RCM’s 1st transaction in Georgia.

M&A Deal Summary
Date 2022-01-10
Target Cloudmed
Sector Internet Software and Services
Buyer(s) R1 RCM
Sellers(s) New Mountain Capital
Deal Type Add-on Acquisition
Deal Value 4.1B USD
Advisor(s) Barclays Investment Bank (Financial)
Ropes & Gray (Legal)

Target

Cloudmed

Atlanta, Georgia, United States
Cloudmed provides Revenue Intelligence solutions for healthcare providers in the United States and recovers over $1.5 billion of underpaid or unidentified revenue for its clients annually. Its revenue intelligence platform combines cloud-based data architecture and deep domain expertise with intelligent automation to analyze large volumes of medical records, payment data, and complex medical insurance models to identify opportunities to deliver additional revenue to customers. Cloudmed is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

R1 RCM

Murray, Utah, United States
Category Company
Founded 2003
Sector Information Services
Employees29,400
Revenue 2.3B USD (2023)
DESCRIPTION

R1 RCM is a provider of services and technology to healthcare providers. The Company helps clients strengthen their financial stability and deliver better care at a more affordable cost to the communities they serve, increasing healthcare access for all. R1 RCM was founded in 2003 and is based in Murray, Utah.

DEAL STATS #
Overall 5 of 6
Sector (Internet Software and Services) 2 of 2
Type (Add-on Acquisition) 4 of 5
State (Georgia) 1 of 1
Country (United States) 5 of 6
Year (2022) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 VisitPay

Boise, Idaho, United States

VisitPay is a cloud based digital payment solution provider. VisitPay was founded in 2010 and is based in Boise, Idaho.

Buy $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-06 Acclara Solutions

Houston, Texas, United States

Acclara Solutions is a revenue cycle management firm that helps hospitals, health systems, and physician practices recover more revenue more quickly with services for patient financial responsibility, insurance reimbursement, and conversion assistance. Acclara Solutions is based in Houston, Texas.

Buy $675M

Seller(S) 1

SELLER

New Mountain Capital

New York, New York, United States
Category Private Equity Firm
Founded 2000
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.

DEAL STATS #
Overall 41 of 45
Sector (Internet Software and Services) 2 of 2
Type (Add-on Acquisition) 19 of 22
State (Georgia) 2 of 3
Country (United States) 38 of 42
Year (2022) 1 of 2
Size (of disclosed) 2 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 CCG IQ

Charlotte, North Carolina, United States

CCG IQ is a provider of IT solutions for insurance underwriting and claims decisions. The CCQ IQ brands, which include HVACi, StrikeCheck, and JMI Reports, specialize in HVAC and electronics claims, as well as underwriting inspections for insurance professionals. Consolidated Claims Group LLC was founded in 2011 and is based in Charlotte, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-13 Covaris

Woburn, Massachusetts, United States

Covaris develops, manufactures, and markets instruments, consumables, and reagents used in pre-analytical sample preparation for genomic and proteomic analysis to help accelerate the pace of research and life science innovations. Covaris is based in Woburn, Massachusetts.

Buy -
Mergr

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