By Will Feuer
R1 RCM, which provides revenue-management services for healthcare providers, said it has agreed to buy Acclara for $675 million in cash plus warrants from Providence, one of the country’s biggest hospital systems.
Providence also has selected R1 as its revenue cycle management partner under a 10-year agreement.
On top of the $675 million in cash, Providence will get warrants to purchase 12.2 million shares of R1 stock at a strike price of $10.52, including a three-year lock-up. R1 has a market value of about $5 billion.
Write to Will Feuer at Will.Feuer@wsj.com
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