(Reuters) – A group of R1 RCM’s investors is considering taking the healthcare services provider private, according to a regulatory filing on Monday, sending shares of the company up 30%.
The investor group, led by equity firm New Mountain Capital, said it had submitted a draft proposal to acquire all of the Utah-based company’s outstanding shares not currently owned by the investors for a proposed price of $13.75 per share in cash.
The company’s shares rose to $14.43 in early trading.
New Mountain Capital and its affiliates also disclosed that they have been in discussions with investment vehicle TCP-ASC regarding the proposed take-private offer.
TCP-ASC is jointly owned by TowerBrook Capital Partners and Ascension Health Alliance.
New Mountain Capital holds a 32.43% stake in R1 RCM, while TowerBrook has a 29.64% stake, according to LSEG data.
“While there is not final agreement on terms as of this date, these discussions remain ongoing and there is active dialogue,” the investor group said in a filing.
According to the filing, RCM is discussing the request and there is no final agreement on terms. R1 RCM did not immediately respond to a Reuters request for comment.
(Reporting by Christy Santhosh and Bhanvi Satija in Bengaluru; Editing by Maju Samuel)
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