Accretive Health, Inc. announced the completion of the transaction announced on December 8, 2015 with Ascension. As part of the transaction, Accretive Health and Ascension have 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, subject to certain limited exceptions. In addition, 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 expects to 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.