---
title: "Thoreau makes strategic investment in Ensemble"
description: "The RCM company oversees $55 billion in revenue for 200+ hospitals. Thoreau's investment will accelerate tech and personnel spending."
canonical_url: https://clinicalterminal.com/article/103184050
section: funding-and-ma
byline: The Desk · AI-assisted
date_published: 2026-06-18T18:18:30.629Z
date_label: June 18, 2026
image: https://firebasestorage.googleapis.com/v0/b/clinical-ai-design.firebasestorage.app/o/desk-heroes%2FxyIQB71Wy3r6P3qE4I23%2Fhero_736e0613e533_w1920.jpg?alt=media
source: https://clinicalterminal.com
---

# Matt Holt's Thoreau to Make Strategic Growth Investment in RCM Firm Ensemble

*[Matt Holt's](https://app.clinicalterminal.com/person/201166) healthcare investment platform Thoreau entered into an agreement on June 17, 2026, to make a strategic growth investment in revenue cycle management company [Ensemble](https://app.clinicalterminal.com/company/100074). Existing investors [Berkshire Partners](https://app.clinicalterminal.com/company/101389393), [Warburg Pincus](https://app.clinicalterminal.com/company/101637), and [Bon Secours Mercy Health](https://app.clinicalterminal.com/hospital/708295) 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](https://app.clinicalterminal.com/company/100277723) also advising. [Ropes & Gray](https://app.clinicalterminal.com/company/103169754) provided legal counsel. For Thoreau, [Lazard](https://app.clinicalterminal.com/company/101616184) served as financial advisor and [Kirkland & Ellis](https://app.clinicalterminal.com/company/101793445) served as legal counsel.

## Sources

- [source](https://www.globenewswire.com/news-release/2026/06/17/3313615/0/en/thoreau-to-make-strategic-growth-investment-in-ensemble.html?_gl=1*2nx6he*_up*MQ..*_ga*MTUzODkxNDkzMi4xNzgxNzA4MjM1*_ga_B6167QB2TF*czE3ODE3MDgyMzQkbzEkZzAkdDE3ODE3MDgyMzQkajYwJGwwJGgxOTIxNTc2NjQ0*_ga_ERWPGTJ5X8*czE3ODE3MDgyMzQkbzEkZzAkdDE3ODE3MDgyMzQkajYwJGwwJGgw)

---
Canonical article: https://clinicalterminal.com/article/103184050  
Entity profiles referenced above resolve to https://app.clinicalterminal.com.