In today's climate, medical professionals are looking to reduce costs while improving patient results. That is one of drivers attracting buyers, including R1 RCM Inc. (Nasdaq: RCM), to healthcare data providers.

R1 has reached a deal to acquire Intermedix Corp. for about $460 million. Nashville-based Intermedix provides data analytics to more than 15 thousand healthcare providers across the U.S. The target generated $193 million in revenue in 2017 and an adjusted Ebitda of $48 million.

“We believe the next chapter in healthcare is one of revenue cycle transformation, where an enterprise-wide approach will simplify and contribute to the way patients interact with the revenue cycle,” says R1 CEO Joseph Flanagan. The deal does not include Intermedix's emergency preparedness business, which will become a separate Thomas H. Lee Partners-backed company after the acquisition closes.

"We believe our health system and physician practice partners will more easily connect revenue cycle operations across all points of care, improving the patient and physician experience while improving revenues and reducing costs," adds Flanagan. Chicago-based R1 offers software to hospitals and physicians that is designed to help them manage their costs and stay in regulatory compliance.

In other healthcare data deals, EQT has agreed to acquire a majority stake in healthcare technology provider Certara; Francisco Partners made a growth equity investment in healthcare information company Availity; Fidelity National Financial Inc. (NYSE: FNFV) has agreed to buy medical software and documentation provider T-System Holdings; and New Mountain Capital-backed Ciox Health acquired data service company Arrohealth.

Bank of America Merrill Lynch and Kirkland & Ellis are advising R1. Evercore Inc. (NYSE: EVR) and Weil Gotshal & Manges are advising Intermedix.