R1 RCM Inc. [NASDAQ: RCM] disclosed Tuesday that it has decided to purchase VisitPay. The firm has inked an agreement to buy VisitPay for nearly $300 million in cash. The cloud-based platform of VisitPay is utilized by the nation’s largest and most innovative health systems. The platform is utilized to revolutionize the payment experience and drive both improved patient satisfaction and higher collection yield.
This acquisition is beneficial for both firms. R1 and VisitPay both shared the same vision for enhancing the victim’s experience by consolidating and rationalizing clinical and financial touchpoints. The top-class enterprise platform offers healthcare workers and sufferers the tools required to make the healthcare financial experience unpretentious and resourceful.
Additionally, it comprises unified digital statements across multiple visits, care settings, and family members. R1 will be dignified to direct the healthcare payments market in price transparency, flexible and customized payment options, personalized communications, and big data analytics with these added competencies.
Furthermore, R1 is planning to finance the deal with cash from its balance sheet and debt. The deal offers a tax benefit priced at nearly $40 million. It is parallel to an effective buying price of nearly $260 million. Moreover, the firm revealed that the deal is anticipated to execute in the third quarter of 2021.