Ropes & Gray advised New Mountain Capital and its portfolio company Cloudmed, a leader in Revenue Intelligence solutions for healthcare providers, in its sale to R1 RCM, Inc. The transaction values Cloudmed at approximately $4.1 billion, including $857 million of net debt, based on R1’s closing stock price on January 7, 2022. The transaction was announced on Jan. 10, 2022 in a press release.
New Mountain Capital is a leading growth-oriented investment firm with over $35 billion in assets under management. Cloudmed, based in Atlanta, Georgia, serves more than 400 of the largest health systems in the United States, including 47 of the top 50 hospital systems.
The Ropes & Gray team that advised New Mountain Capital and Cloudmed was led by private equity partners John Sorkin (New York) and Andrew Silver (both of New York), and included private equity partner Garrett Charon (New York), tax partners Alyssa Kollmeyer (Boston) and Adam Greenwood (New York), benefits partner Danna Kivell (New York), leveraged finance partner Stefanie Birkmann (New York), health care partner Jennifer Romig (Chicago), labor & employment partner Megan Bisk (Boston), capital markets partner Rachel Phillips (New York), mergers & acquisitions partner Sarah Young (New York), litigation & enforcement partners Jonathan Klarfeld, Samer Musallam (both of Washington, D.C.) and Ruchit Patel (London), IP transactions partner Megan Baca (Silicon Valley), commercial & securities litigation partner David Hennes, capital markets counsel Marc Rotter and private equity counsel Andrea Bidegaray Stephen (all of New York).
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find out more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.