What You Ought to Know:
– Capital One Industrial Financial institution simply introduced it served as a joint lead arranger for an amended and restated credit score facility for R1 RCM, a number one supplier of technology-driven income cycle administration (RCM) options for the healthcare {industry}.
– This $2.3 billion financing will assist RI RCM deal with the {industry}’s labor and reimbursement challenges and assist healthcare supplier organizations scale back prices, enhance income, and enhance the affected person expertise.
Financing Particulars
R1 RCM used the power, which elevated its borrowing capability from $1.2 billion to $2.3 billion, to buy Cloudmed, an industry-leading income intelligence platform, and to refinance that firm’s current debt. Capital One additionally served as joint lead arranger when R1’s facility was created in 2019 and supported successive incremental will increase in 2020 and 2021. Highlights of the deal embrace:
– The power elevated R1 RCM’s borrowing capability from $1.2 billion to $2.3 billion
– The $2.3 billion facility features a $600 million revolving line of credit score, a $1.2 billion time period mortgage and a $500 million time period mortgage B.
– Capital One served as a joint lead arranger when R1’s facility was created in 2019 and supported successive incremental will increase in 2020 and 2021.