Ascension and TowerBrook-backed R1 RCM completed the acquisition of Cloudmed from New Mountain Capital for $4.1bn.

Ascension Capital and TowerBrook Capital-backed R1 RCM, a provider of technology-enabled revenue cycle management services, completed the acquisition of Cloudmed, a healthcare revenue intelligence services provider, from New Mountain Capital, a private equity firm, for $4.1bn. “This transaction accelerates our strategy to build the most scalable, flexible, and integrated platform for the revenue cycle and consumer engagement in healthcare. Our combined solutions, including enhanced automation capabilities, will further transform the patient experience and drive continued improvement in our customers’ financial results," Joe Flanagan, R1 President and CEO.