R1 RCM details amended and restated credit agreement for Cloudmed buy

Chicago, June 21 – R1 RCM Inc. detailed the acquisition financing for Cloudmed, an Atlanta-based provider of revenue intelligence solutions for health care providers, from New Mountain Capital in an 8-K filing on Tuesday.

The amended and restated senior secured credit facilities included $691.25 million of an existing senior secured term loan A facility, a previously reported $540 million senior secured incremental term loan A facility, a previously reported $500 million term loan B facility and a $600 million senior secured revolver.

The incremental term A loan has a five-year maturity and the term B loan has a seven-year maturity, as previously reported.

The revolver matures on July 1, 2026.

At closing, revolver borrowings outstanding were $110,875,000.

The unused commitment fee rate is between 20 bps and 40 bps for the revolver.

The term SOFR margin is between 125 bps and 250 bps.

The floor for all but the term loan B is 0%.

As previously reported, pricing on the term loan B is SOFR plus 300 bps with a 0.5% floor.

Barclays, JPMorgan Chase Bank, NA, BofA Securities Inc., Capital One, NA, Wells Fargo Securities, LLC, U.S. Bank NA, KeyBanc Capital Markets Inc., PNC Capital Markets LLC, Morgan Stanley Senior Funding Inc., HSBC Securities (USA) Inc. and Fifth Third are the bookrunners on the deal. BofA is the administrative agent.

Co-syndication agents are Barclays and JPMorgan Chase Bank, NA.

R1 RCM is a Murray, Utah-based provider of technology-driven solutions that transform the patient experience and financial performance of health care providers.

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