R1 RCM Receives Notice of Filing Delinquency from Nasdaq
17 Novembro 2023 - 6:00PM
R1 RCM Inc. (NASDAQ: RCM), a leading provider of technology-driven
solutions that transform the patient experience and financial
performance of healthcare providers, today announced that, as
anticipated, it received a letter from Nasdaq’s Listing
Qualifications Department indicating that, as a result of the
Company’s delay in filing its Quarterly Report on Form 10-Q for the
three and nine months ended September 30, 2023 (the “Form 10-Q”),
the Company no longer complies with the continued listing
requirements under Nasdaq Listing Rule 5250(c)(1), which requires
Nasdaq-listed companies to timely file all periodic reports with
the Securities and Exchange Commission (the “Commission”). On
November 13, 2023, the Company filed with the Commission a
Notification of Late Filing on Form 12b-25 with respect to the Form
10-Q as a result of its determination to restate certain of its
previously issued financial statements.
The Nasdaq notice has no immediate effect on the listing of the
Company’s common stock. The Nasdaq notice states that the Company
is required to submit a plan to regain compliance with Nasdaq’s
filing requirements for continued listing within 60 calendar days
of the date of the notice. Upon acceptance of the Company’s
compliance plan, Nasdaq is permitted to grant an extension of up to
180 days from the Form 10-Q’s filing due date for the Company to
regain compliance with Nasdaq’s filing requirements for continued
listing.
The Company intends to file the Form 10-Q with the Commission as
soon as practicable.
Forward-Looking Statements
This press release contains “forward-looking statements” made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, as amended and Section 21E of the
Exchange Act. Forward-looking statements generally relate to future
events, including among other things statements regarding the
Company’s intent to restate its prior consolidated financial
statements for the applicable non-reliance periods, the estimated
impact of adjustments to the financial statements for the
applicable non-reliance periods, the impact of the Company’s
material weakness in internal control over financial reporting and
the Company’s disclosure controls and procedures on its financial
statements and other public disclosures, the anticipated timing for
filing the Company’s restated reports and the Form 10-Q for the
third quarter of 2023 and related matters. These statements are
often identified by the use of words such as “anticipate,”
“believe,” “contemplate,” “designed,” “estimate,” “expect,”
“forecast,” “goal,” “intend,” “may,” “outlook,” “plan,” “predict,”
“project,” “see,” “seek,” “target,” “would” and similar expressions
or variations or negatives of these words, although not all
forward-looking statements contain these identifying words. These
statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of the Company’s management and are not predictions of actual
performance. Actual outcomes and results may differ materially from
those contemplated by these forward-looking statements as a result
of uncertainties, risks and changes in circumstances, including but
not limited to risk and uncertainties related to: (i) the Company’s
failure to promptly restate the financial statements for the
applicable non-reliance periods and file the required reports with
the Commission, (ii) the impact of the restatements of the
financial statements for the applicable non-reliance periods, and
the notice from Nasdaq, on the price of the Company’s common stock,
the Company’s reputation, the Company’s relationships with its
investors, suppliers, customers, employees and other parties and
(iii) the Company’s ability to regain compliance with Nasdaq’s
timely filing requirements for continued listing within the
applicable cure period. Additional risks and uncertainties that
could cause actual outcomes and results to differ materially from
those contemplated by the forward-looking statements are included
under the heading “Risk Factors” in the Company’s annual report on
Form 10-K for the year ended December 31, 2022 and any other
periodic reports that the Company may file with the Commission.
Subsequent events and developments, including actual results or
changes in the Company’s assumptions, may cause the Company’s views
to change. The Company assumes no obligation and does not intend to
update these forward-looking statements, except as required by law.
You are cautioned not to place undue reliance on such
forward-looking statements.
About R1 RCMR1 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.
Contact:
R1 RCM Inc.
Investor Relations:Evan Smith,
CFA516.743.5184investorrelations@r1rcm.com
Media Relations:Allison + PartnersAmanda
CritelliR1PR@allisonpr.com
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