What you should know:
– Capital One Commercial Bank has just announced that it is co-lead arranger of a modified and updated credit facility for R1 RCM, a leading provider of technology-driven revenue cycle management (RCM) solutions for the health sector.
– This $2.3 billion in funding will help RI RCM address industry labor and reimbursement challenges and help healthcare provider organizations reduce costs, increase revenue and improve the patient experience.
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 the existing debt of this company. Capital One also served as co-lead arranger during the inception of the R1 facility in 2019 and has supported successive incremental increases in 2020 and 2021. Highlights of the deal include:
– The facility increased the borrowing capacity of R1 RCM from $1.2 billion to $2.3 billion
– The $2.3 billion facility includes a $600 million revolving line of credit, a $1.2 billion term loan and a $500 million term loan B.
– Capital One served as joint lead arranger when inception of the R1 facility in 2019 and has supported successive incremental increases in 2020 and 2021.