Sarnova, Inc. agreed to acquire Emergency Medical Services Business of R1 RCM Inc. (NasdaqGS:RCM) for approximately $140 million on July 19, 2020. Under the terms of the transaction, $135 million will be paid at transaction close and $5 million after twelve months if certain transition services are completed. In a related transaction, Sarnova is also acquiring Digitech. Sarnova will simultaneously combine Digitech and the Emergency Medical Services Business of R1 RCM Inc., and will continue to operate under the Digitech name. The combined entity will be led by Mark Schiowitz, Founder and Chief Executive Officer of Digitech, and the combined management teams. The transaction includes EMS Revenue Cycle Management and Electronic Patient Care Reporting. In 2019, Emergency Medical Services had revenues of $66 million and approximately $13 million in adjusted EBIDTA. The transaction is subject to regulatory approval, other closing conditions, and is expected to close in the third quarter of 2020. Sales proceeds will further strengthen balance sheet and capacity for future M&A. Evercore Group L.L.C. acted as financial advisor and Winston & Strawn LLP acted as legal advisor to R1 RCM Inc. Robert W. Baird & Co. Incorporated acted as financial advisor and Michael T. Holick, Stephen Wiseman, Alden Millard, Marcy Geller, Jeannine McSweeney, Eric Wolf, Lori Lesser, Vanessa Burrows, Krista McManus and Steven DeLott of Simpson Thacher & Bartlett LLP acted as legal advisors to Sarnova Holdings, Inc. and Patricia Industries. Sarnova, Inc. completed the acquisition of Emergency Medical Services Business of R1 RCM Inc. (NasdaqGS:RCM) on October 30, 2020.