Perkins Coie LLP

12/08/2023 | Press release | Distributed by Public on 12/08/2023 10:50

Perkins Coie Advises R1 on Acquisition of Tech-Driven Revenue Management Company Acclara for $675M and Warrants

12.08.2023

SEATTLE (December 8, 2023)-Perkins Coie is pleased to have advised R1 RCM Inc., a leading provider of technology-driven solutions to the healthcare sector, on the acquisition of leading technology-driven revenue cycle management company Acclara for $675M and warrants to purchase 12.2 million shares of R1 stock. For more information, please see R1's announcement here.

Under the deal's terms, R1 has been selected by Providence, one of the nation's largest health systems, as its long-term revenue cycle management partner. The partnership will enable R1 to extend its scale and diversification to build long-term value for providers, patients, and shareholders.

Providence serves the western U.S., with 51 hospitals, more than 1,000 physician clinics, senior services, supportive housing, and many other health and educational services.

The Perkins Coie team that advised R1 on the acquisition was led by an M&A team that included partner Nick Ferrer, the firmwide co-chair of Perkins Coie's Mergers & Acquisitions practice, as well as M&A partner-elect David Martinez, associates Ann Balzer and Numaan Deen, and a technology transactions team that included partner Sam Hong, and associates Jennifer Huseby, Jake Lipnik, and Anna Stacey. Other members of the deal team included antitrust partner Chris Williams, executive compensation partner Lisa McGimpsey, federal tax partner Carl Crow, associates Minkeun Woo and Kristi Lee, employee benefits partner Tom Cristy and associate Tomer Vandsburger, real estate partner Jennifer Understahl and associate Shaun Devereaux, labor and employment senior counsel Jason Elliott, counsel Adam Weiner, and environmental partner Polly Hampton.

Perkins Coie is a leading international law firm that is known for providing high-value, strategic solutions and extraordinary client service on matters vital to our clients' success. With more than 1,200 lawyers in offices across the United States and Asia, we provide a full array of corporate, commercial litigation, intellectual property, and regulatory legal advice to a broad range of clients, including many of the world's most innovative companies and industry leaders as well as public and not-for-profit organizations.

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