Capital One Serves as Joint Lead Arranger on $2.3 Billion Financing for R1 RCM

Capital One Commercial Bank, a full-service bank with middle market specialization in many industries, including over 40 healthcare sub-sectors, announced today it served as a joint lead arranger for an amended and restated credit facility for R1 RCM. The borrower is a leading provider of technology-driven revenue cycle management (RCM) solutions for the healthcare industry. R1 RCM used the facility, which increased its borrowing capacity from $1.2 billion to $2.3 billion, to purchase Cloudmed, an industry-leading revenue intelligence platform, and to refinance that company’s existing debt. Capital One also served as joint lead arranger when R1’s facility was created in 2019 and supported successive incremental increases in 2020 and 2021. “We believe that R1 RCM’s acquisition of Cloudmed gives R1 RCM the ability to offer a more comprehensive, end-to-end revenue cycle management solution and helps healthcare provider organizations reduce costs, increase collections, and improve the patient experience in the face of a challenging labor and reimbursement environment,” said Donald Hooker, Capital One Healthcare Technology analyst. “This combination should give R1 RCM a greater ability to scale its investments in automation and drive improved yield from payors.” R1 has made several acquisitions since February 2018 and is the only end-to-end RCM provider with the scale to service large national hospital networks. “Our goal is to build the most scalable, flexible and...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT Revenue Cycle Management Capital One Capital One Commercial Bank Cloudmed Donald Hooker Health IT Funding Health IT Fundings Health IT Investment R1 R1 RCM Rachel Wilson Source Type: blogs