Revenue cycle management company Ensemble Health Partners has acquired a new investor.
Solow, the healthcare investment platform founded by private equity head Matt Holt, has agreed to make a strategic growth investment in the company. Berkshire Partners, Warburg Pincus and Bon Secours Mercy Health will continue as investors in Ensemble, along with Solow, the companies announced.
Terms of the deal were not disclosed.
Ensemble, a 12-year-old company, manages operations across the revenue cycle for health systems that include more than 200 hospitals and more than $55 billion in net patient revenue. The company’s platform spans RCM operations such as patient access, coding, claims management, non-repudiation, accounts receivable follow-up, and patient financial experience. According to the company, Ensemble’s platform combines certified revenue cycle operators, data-rich intelligence, and advanced artificial intelligence.
The investment will support Ensemble’s continued growth and accelerate investments in technology and talent, the company said in a press release.
“There is a huge opportunity to reduce friction in healthcare for providers, patients and everyone involved, and we want to continue to be at the forefront of innovations that make that possible,” Ensemble founder and CEO Judson Ivey said in a statement. “The addition of a strategic partner with such extensive experience in healthcare management, technology and services provides us with additional capital and expertise to expand our offerings to our clients and the communities they serve.”
Bloomberg reported earlier this month that the Solow Group was in talks to buy Ensemble Health Partners in a deal worth about $12 billion. Mr. Holt left PE firm New Mountain Capital late last year to found the Solow Group venture firm.
The transaction is subject to customary closing conditions and approvals.
As RCM companies enhance their AI solutions, Ensemble is partnering with enterprise AI company Cohere to build RCM-native, large-scale language models designed specifically for healthcare financial workflows. The RCM-native LLM model will be shaped by Ensemble’s operational expertise and fine-tuned for real-world RCM tasks, powering AI agents that support workflows from patient intake to account resolution, company executives said last month.
