Matt Holt's Thoreau to Make Strategic Growth Investment in RCM Firm Ensemble
Matt Holt's healthcare investment platform Thoreau entered into an agreement on June 17, 2026, to make a strategic growth investment in revenue cycle management company Ensemble. Existing investors Berkshire Partners, Warburg Pincus, and Bon Secours Mercy Health will continue as investors alongside Thoreau. The transaction is subject to customary closing conditions and approvals.
Ensemble manages end-to-end revenue cycle operations for more than 200 hospitals, overseeing more than $55 billion in net patient revenue. The company uses a combination of certified operators, data, and AI for services spanning patient access, coding, claims management, and denial prevention. The investment is intended to support Ensemble's growth and accelerate spending on technology and personnel.
J.P. Morgan Securities LLC was the lead financial advisor to Ensemble, with Goldman Sachs & Co. LLC and Guggenheim Partners also advising. Ropes & Gray provided legal counsel. For Thoreau, Lazard served as financial advisor and Kirkland & Ellis served as legal counsel.