🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

PE firm New Mountain values R1 RCM at nearly $6 billion in take-private deal

Published 07/03/2024, 03:30 PM
Updated 07/03/2024, 04:01 PM
© Reuters.
RCM
-

(Reuters) - Private-equity firm New Mountain Capital has submitted a buyout proposal for healthcare services provider R1 RCM (NASDAQ:RCM) in an all-cash deal, valuing the company at nearly $6 billion as per a filing on Tuesday.

New Mountain Capital submitted an all-cash proposal to acquire all of the Utah-based company's outstanding shares it does not already own for a proposed price of $13.25 apiece.

R1 RCM did not immediately respond to a Reuters request for comment.

In February, a group of R1 RCM's investors led by New Mountain had submitted a draft proposal to acquire all of the company's outstanding shares not owned by the investors for a proposed price of $13.75 per share in cash.

New Mountain, however, said on July 1 that it was no longer interested in the joint proposal for the take-private deal.

The current valuation of the healthcare service provider stands at $4.59 billion, as per LSEG. Its shares have gained a little over 5% so far this year.

According to the filing, R1 RCM has not provided any response to the private equity firm.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.