Private equity firms, led by Ascension and TowerBrook Capital Partners, are buying out R1 RCM, a major provider of billing services for hospitals. Ascension, R1’s largest client and shareholder, had no intention of giving up their ownership during the process. TowerBrook ultimately partnered with Clayton, Dubilier & Rice on the $8.9 billion deal. R1’s hospital customers, including some of the country’s largest systems, played a significant role in steering the company towards this outcome. The buyout is a significant move in the healthcare industry, with private equity firms taking control of a key player in hospital billing and administrative services.
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R1 RCM proxy: Ascension, other hospitals played big role in buyout
