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R1 RCM to acquire revenue cycle management provider

R1 RCM Inc. has agreed to acquire Intermedix Corp., including its healthcare division comprised of its physician and emergency medical services revenue cycle management, practice management and analytics businesses for approximately $460 million.

The Intermedix emergency preparedness division is not a part of this deal and will become an independent company, backed by Thomas H. Lee Partners LP, after the consummation of the deal.

The transaction is expected to close in the second quarter and is subject to regulatory approval and other customary closing conditions.

Intermedix provides revenue cycle management, practice management and data analytics services to more than 15,000 individual healthcare providers across the nation.

BofA Merrill Lynch acted as financial adviser and Kirkland & Ellis LLP acted as legal adviser to R1. Evercore acted as financial adviser and Weil Gotshal & Manges LLP acted as legal adviser to Intermedix.