Sarnova Acquires R1 EMS and Digitech


Sarnova, a portfolio company of Patricia Industries, acquisition of R1 EMS and Digitech


Sarnova, Inc. (“Sarnova” or the “Company”), a portfolio company of Patricia Industries, has entered into a definitive agreement to acquire and simultaneously combine the EMS business (“R1 EMS”) of R1 RCM Inc. (NASDAQ: RCM) and Digitech Computer LLC (“Digitech”) in partnership with Pamlico Capital. Terms of the transaction have not been disclosed. The transaction is subject to regulatory approval.

Baird served as the exclusive financial advisor to Sarnova, Inc. on this transaction.


Sarnova is the leading specialty distributor of healthcare products in the emergency medical services (“EMS”) and acute care markets. The Company is comprised of four major business units: Bound Tree Medical, Cardio Partners, Emergency Medical Products and Tri-anim Health Services. Sarnova is a company of Patricia Industries. Sarnova, Inc. is headquartered in Dublin, Ohio.

Patricia Industries, a part of Investor AB, makes control investments in leading companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Patricia Industries’ ambition is to be the sole owner of its companies, together with strong management teams and boards. Patricia Industries invests with an indefinite holding period and focuses on building durable value and capturing organic and non-organic growth opportunities. Patricia Industries is headquartered in Stockholm, Sweden.

R1 RCM Inc. is a leading provider of technology-enabled revenue cycle management services which transform a health system’s revenue cycle performance across settings of care. R1 EMS, formerly ADPI/Intermedix, provides solutions for EMS agencies to help them optimize revenue while promoting superior patient care – from dispatch to discharge. R1 EMS offers comprehensive revenue cycle management services and solutions that provide EMS agencies with billing, coding, collections, dashboards and reporting support. R1 RCM Inc. is headquartered in Chicago, Illinois.

Digitech is a leading provider of advanced billing and technology services to the EMS transport industry. Since its founding in 1984, Digitech has refined its software platform to create a cloud-based billing and business intelligence solution that monitors and automates the entire EMS revenue lifecycle. Digitech leverages its proprietary technology to offer fully outsourced services that maximize collections, protect compliance and deliver results for clients. Digitech Computer LLC is headquartered in Chappaqua, New York.

Pamlico Capital is a private equity firm founded in 1988 that invests in lower middle market companies in the United States. Pamlico Capital seeks control-oriented growth equity investments alongside proven management teams in its target industries: business & technology services, communications and healthcare. Since inception, Pamlico Capital has invested over $3 billion. Pamlico Capital is headquartered in Charlotte, North Carolina.

Sarnova, a portfolio company of Patricia Industries, acquisition of R1 EMS and Digitech

July 2020
Sarnova, Inc.
M&A - Buyside
Healthcare IT & Services
Target Geography
North America
Acquiror Geography
North America