Atlas
Back to RCM
Peer Fund / Dealmaker·RCM

Ravi Sachdev

Partner at Clayton, Dubilier & Rice

New York, NY

RS
Why they matter

CD&R's healthcare deal lead and co-architect of the $8.9B R1 RCM take-private — the single most consequential GP in healthcare RCM private equity today.

Background

Ravi Sachdev is a Partner at Clayton, Dubilier & Rice, which he joined in 2015 after serving as Managing Director and co-head of healthcare services at J.P. Morgan. He anchors CD&R's healthcare services investing, having driven the firm's investments in agilon health, Covetrus, Gentiva, Mosaic Health, naviHealth, R1 RCM, and TRANZACT. He founded agilon health and serves as vice chairman of its board, and holds a B.A. in economics from the University of Michigan.

Notable deals

  • 2024
    Co-led CD&R's $8.9B take-private of R1 RCM alongside TowerBrook Capital Partners; quoted as deal lead in the announcement
  • 2022
    Led CD&R's ~$4B take-private of Covetrus in partnership with TPG Capital
  • 2021
    Founded agilon health, CD&R's value-based primary care platform, and took it public; serves as board vice chairman

Call-prep brief

Background

  • Partner at Clayton, Dubilier & Rice since 2015; previously MD and co-head of healthcare services at J.P. Morgan, where he advised on Medco/Express Scripts, Vanguard/Tenet, TriZetto/Cognizant, and the IPOs of HealthEquity, Premier, and IMS Health.
  • Founder and board vice chairman of agilon health; board seats at R1 RCM, Covetrus, Gentiva, and Mosaic Health.

Current focus

  • Leads CD&R's healthcare services franchise. His signature current position is R1 RCM, taken private with TowerBrook for $8.9B in 2024 — the defining bet on tech-enabled revenue cycle management at scale.
  • Thesis pattern: buy category-leading healthcare platforms (RCM, value-based care, post-acute, animal health) and drive automation-led margin expansion.

What they care about

  • Provider cost pressure, RCM automation and AI, value-based care economics, and partnership structures with health systems.

Recent moves

  • R1 RCM close (late 2024) and ongoing integration of automation capabilities; continued build-out of agilon and Mosaic Health.

Sensitivities

  • R1 co-ownership with TowerBrook means governance questions are delicate; agilon's public-market performance has been under pressure — avoid framing it as a stumble.
  • Will not discuss R1 strategy specifics with parties he views as competitive.

Questions to ask

  1. How does he see AI reshaping RCM unit economics at R1 over the next three years?
  2. What made the TowerBrook partnership structure work for an $8.9B dual-sponsor take-private?
  3. Where does he see the next consolidation opportunity in provider back-office services?

Outreach draft

Subject
RCM perspectives — brief call?
Hi Ravi, I'm on the investment team at a fund evaluating opportunities in healthcare revenue cycle management, and your work leading CD&R's investment in R1 RCM — and building agilon before that — makes you the person whose perspective on the space I'd most value. We're forming a view on where automation is actually moving the needle on RCM margins versus where it's still promise. I'd welcome 20 minutes to hear how you think about the category's next phase — happy to work around your schedule and share our own thesis in return. Best regards, [Name]

Linked companies

Sources