MURRAY, Utah, Nov. 02, 2021 (GLOBE NEWSWIRE) — R1 RCM today announced that its Board of Directors has authorized the repurchase of up to $200 million of the company’s common stock. The repurchase program will be funded with cash on hand and will be executed consistent with the company’s capital allocation strategy, which will continue to prioritize investments to grow the business.
“This program reflects the strength of R1’s business and cash flow, as well as the confidence of our senior management team and Board of Directors’ expectations for continued strong performance over the long term,” said Rachel Wilson, chief financial officer and treasurer of R1. “Our durable cash flow generation provides ample capacity to opportunistically conduct share repurchases as a component of our capital allocation strategy while continuing to execute on our growth strategy, including investing in organic growth and pursuing value-accretive M&A opportunities.”
Under the repurchase program, repurchases can be made from time to time in the open market or in privately negotiated transactions, or in any other manner that complies with the rules of the United States Securities and Exchange Commission and other applicable legal requirements. The timing, volume, price and method of share repurchases will be at the sole discretion of management, dependent on market conditions, applicable securities laws and other factors. The company is not obligated to purchase any shares under the program and the program may be discontinued at the discretion of the Board.
About R1 RCM
R1 is a leading provider of technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. R1’s proven and scalable operating models seamlessly complement a healthcare organization’s infrastructure, quickly driving sustainable improvements to net patient revenue and cash flows while reducing operating costs and enhancing the patient experience. To learn more, visit: r1rcm.com.
