R1 RCM (RCM) said Tuesday its acquisition has been completed by investment funds affiliated with TowerBrook Capital Partners and Clayton Dubilier & Rice.
Under the definitive merger agreement announced Aug. 1, all outstanding R1 common shares that TowerBrook didn't own would be acquired for $14.30 per share in cash, valuing the company at about $8.9 billion, R1 said.
R1 said it has become a privately held company and its common stock will no longer be listed on Nasdaq.
The company said Joe Flanagan has been named as its chief executive, replacing Lee Rivas.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.