Healthcare investment platform Thoreau has entered into an agreement to make a strategic growth investment in Ensemble Health Partners.
The investment will support the revenue cycle management company’s continued growth and accelerate its investment in technology and people, according to a June 17 Ensemble news release. Ensemble manages revenue cycle operations for more than 200 hospitals nationwide and more than $55 billion in net patient revenue.
Berkshire Partners, Warburg Pincus and Cincinnati-based Bon Secours Mercy Health will continue as investors in Ensemble alongside Thoreau, according to the release.
Bloomberg reported June 12 that Thoreau was in advanced talks to acquire Ensemble in a deal valuing the company at about $12 billion. Ensemble did not respond to a message from Becker’s seeking comment.
Thoreau Group was launched by Matt Holt, former managing director and president of private equity at New Mountain Capital, according to Bloomberg. Mr. Holt departed New Mountain Capital in December to start Thoreau, which is backed by private equity firm Apollo Global Management.
The transaction is subject to customary closing conditions and approvals, according to the release.
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