Matt Holt’s private investment firm Thoreau Group is in advanced discussions to acquire US revenue cycle management company Ensemble Health Partners in a transaction valued at around $12bn, according to a report by Bloomberg citing unnamed people familiar with the matter.
A deal could be finalised imminently, the sources said, noting that Thoreau Group – backed by Apollo Global Management – is expected to become the controlling shareholder if the transaction proceeds as planned. The terms have not been publicly confirmed and remain subject to change.
Ensemble Health Partners, headquartered in Blue Ash, Ohio, provides billing, payments and revenue cycle services to hospitals and healthcare providers, helping clients manage and optimise reimbursement processes. The company is currently supported by existing investors including Warburg Pincus, Berkshire Partners and Bon Secours Mercy Health.
Holt, a former New Mountain Capital executive, launched Thoreau Group as an investment platform focused on healthcare and related services.
If completed, the transaction would represent one of the larger recent private equity-backed healthcare services deals, underscoring continued investor appetite for scaled outsourcing platforms within the US healthcare system.
Representatives for the parties involved, including Ensemble and its existing investors, reportedly did not immediately comment on the discussions.
