Exhibit 5.1
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| | 300 North LaSalle Chicago, IL 60654 United States +1 312 862 2000 www.kirkland.com | | Facsimile: +1 312 862 2200 |
September 8, 2022
R1 RCM Inc.
434 W. Ascension Way
6th Floor
Murray, UT 84123
Re: Registration Statement on Form S-3ASR
Ladies and Gentlemen:
We are acting as special counsel to R1 RCM Inc., a Delaware corporation (the “Company”), in connection with the proposed registration by the Company of 179,754,055 shares of its common stock, par value $0.01 per share, pursuant to a Registration Statement on Form S-3ASR, to be filed with the Securities and Exchange Commission (the “Commission”) on or about the date hereof under the Securities Act of 1933, as amended (the “Act”) (such Registration Statement, as amended or supplemented, is hereinafter referred to as the “Registration Statement”). All of the 179,754,055 shares to be registered pursuant to the Registration Statement (the “Shares”) are being offered by the selling stockholder named in the Registration Statement, including up to 40,464,855 shares to be issued upon exercise of the Warrant, dated as of February 16, 2016, by and between R1 RCM Holdco Inc. (f/k/a R1 RCM Inc.) (“Old R1”) and the selling stockholder (the “Warrant”), and to be sold by such selling stockholder (the “Warrant Shares”), subject to the terms and conditions contained in the Warrant Assignment and Assumption Agreement, dated as of June 21, 2022, by and among Old R1, the Company and the selling stockholder (the “Assignment Agreement.”)
In connection therewith, we have examined originals, or copies certified or otherwise identified to our satisfaction, of such documents, corporate records and other instruments as we have deemed necessary for the purposes of this opinion, including (i) the corporate and organizational documents of the Company, including the Amended and Restated Certificate of Incorporation of the Company, filed with the Secretary of State of the State of Delaware on June 21, 2022, (ii) minutes and records of the proceedings of the Company with respect to the sale of the Shares, (iii) the Warrant, (iv) the Assignment Agreement and (v) the Registration Statement and the exhibits thereto.
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