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Ropes & Gray Advises New Mountain Capital and Cloudmed in its $4.1 Billion Sale to R1 RCM

Practices: Private Equity, Mergers & Acquisitions, Tax, Securities & Futures Enforcement, Intellectual Property Transactions, Employment

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), litigation & enforcement counsel Christian Reigstad (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).

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