Accretive Health Inc (Chicago, IL) completed the transaction announced on December 8, 2015 with Ascension (St. Louis, MO) and Ascension and TowerBrook Capital Partners (New York, NY). As part of the transaction, Accretive Health and Ascension entered into a new master professional services agreement for a 10-year term, under which Accretive Health will become the exclusive provider of revenue cycle services and physician advisory services to Ascension’s hospitals, with some exceptions. Additionally, a newly formed investment vehicle owned by Ascension and TowerBrook Capital Partners has invested $200 million in Accretive Health in exchange for convertible preferred stock and warrants. Accretive Health anticipates it will begin transitioning Ascension’s currently served hospitals to the new agreement over the next six months. Ascension hospitals not currently served by Accretive will transition to the company’s platform over an expected three-year period.
Market Pulse transactions shown herein are provided as a matter of public record. These transactions have been compiled from press releases, corporate announcements and other public sources to provide an overview of acquisition and merger activities within the healthcare and life sciences sectors.