Intermountain purchased nearly 4.7 million shares of R1 RCM at $4.29 per share. Under the purchase agreement, Intermountain is entitled to nominate one person to R1 RCM’s board of directors.
The health system recently announced it would transfer about 2,300 nonclinical employees to R1 RCM. Under the partnership, all current Intermountain employees transitioning to R1 RCM will retain a job at their current rate of pay. In most cases, employees’ work sites will not change.
More articles on healthcare finance:
Cleveland Clinic Florida now offers concierge medicine for $333 a month
Catholic Health Initiatives CFO Dean Swindle’s advice to other systems: ‘Don’t get too comfortable with your past success’
Stanford Health Care’s operating income more than doubles in Q1
