R1 completes acquisition of Cerner's RCM business: 3 things to know

Revenue cycle management services provider R1 announced Aug. 3 it has finalized its acquisition of Cerner's RevWorks services business.

Three things to know:

1. R1 announced June 3 plans to buy Cerner's RevWorks services business and commercial, non-federal client relationships.

2. The deal is valued at $30 million, according to R1's June filing with the U.S. Securities and Exchange Commission.

3. As part of the acquisition, RevWorks employees are being offered positions with R1 and Cerner will begin providing R1's revenue cycle services to its current and potential clients.

"We're thrilled to be working with R1 on this transaction as we've had a great partnership for some time," said Brenna Quinn, senior vice president of revenue cycle management at Cerner, according to the news release. "We are committed to growth and transformation that drives simplicity, scale and more cost-effective solutions for global healthcare."

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