R1 RCM Inc. (NASDAQ: RCM), a provider of revenue cycle management services to healthcare providers, announced its acquisition of Intermedix Corporation, a portfolio company of Thomas H. Lee Partners, on February 26.
Intermedix is a global leader in data analytics and cloud-based technology that delivers best-in-class revenue cycle management (RCM), practice management and emergency management solutions. It supports more than 500,000 emergency preparedness and response incidents worldwide and enables more than 15,000 health care providers to focus on patient care.
The acquisition by R1 RCM includes Intermedix’s healthcare division, which is comprised of its physician and EMS RCM practice management and analytics business. With the acquisition, R1 expects to enhance its position as a leading technology-enabled revenue cycle service provider.
As for Intermedix’s Emergency Preparedness and Response Division, it will continue to operate, but under the new name, Juvare. Following the R1 acquisition, Thomas H. Lee Partners will continue to back Juavare.
The acquisition, valued at approximately $460 million, is expected to close in the second quarter of 2018.