R1 RCM Inc. (NASDAQ:RCM), a leading provider of technology-enabled revenue cycle management (RCM) services to healthcare providers, today announced the sale of its emergency medical services (EMS) business, including EMS Revenue Cycle Management and Electronic Patient Care Reporting, to Sarnova Holdings, Inc., a leading specialty distributor of healthcare products in the EMS and acute care markets and a subsidiary of Patricia Industries. Sarnova will purchase the EMS business for approximately $140 million.
The transaction reflects R1’s commitment to maximize investments to drive innovation and growth of its leading revenue cycle management platform serving the provider end market. The transaction is expected to close in the third quarter of 2020, subject to regulatory approval and other closing conditions.
“The sale of the EMS business aligns with our strategic vision and focus on delivering best-in-class revenue cycle management solutions that will help health systems and physician groups improve both financial performance and patient experience,” said Vijay Kotte, executive vice president, physician services at R1. “We are confident that Sarnova is the right home for the EMS business and know they have the expertise to further grow and develop industry-leading solutions for this market.”
Source: Biospace
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.
