Ascension Health, based in St. Louis, offered to buy Chicago-based revenue cycle management company Accretive Health, according to a Crain's Chicago Business report.
Ascension Health, an Accretive client, offered to purchase the RCM Company for half of the company's recent $5.42 per share closing price, according to the report. Accretive is now exploring the possibility of acquisition by Ascension Health or another company, as well as the possibility of remaining a stand-alone firm.
Last year, half of Accretive's cash came from Ascension hospital contracts. Ascension does not plan to renew its contract with Accretive when it expires in 2017, according to the report.