Cincinnati, Ohio – In a move set to accelerate innovation and expand its market leadership, Ensemble Health Partners, a premier provider of technology-driven revenue cycle management (RCM) solutions, has secured a significant investment from prominent investment firms Berkshire Partners and Warburg Pincus. This strategic financial backing, announced on March 28, 2022, will empower Ensemble Health Partners to further enhance its technology, expand its team, and solidify its position as a frontrunner in the healthcare revenue cycle space.
Ensemble Health Partners has established itself as a critical partner to nearly 300 hospitals across the United States, focusing on optimizing financial outcomes and elevating patient experiences. The company’s hands-on approach is designed to navigate the complexities of healthcare finance, enabling health systems to achieve improved financial performance, streamlined billing processes, and superior customer service. This allows healthcare providers to concentrate on what matters most: enhancing patient care and reinvesting in improved patient experiences.
This substantial investment marks a pivotal moment for Ensemble Health Partners, providing the capital necessary to fuel its ambitious growth trajectory. The infusion of funds will be strategically deployed to bolster technological advancements and expand the company’s talent pool. These enhancements are aimed at building upon Ensemble’s reputation as an innovator in revenue cycle management, ensuring the company continues to deliver exceptional results and maintain its best-in-class service offerings to its partners.
Judson Ivy, Founder, President, and CEO of Ensemble Health Partners, emphasized the increasing complexity of the healthcare landscape and the growing demand for sophisticated revenue cycle management services. “Healthcare and the relationship between providers and payors are becoming increasingly complex and the demand for revenue cycle management services is continuing to expand significantly,” Ivy stated. He further highlighted the opportunity to improve efficiency for both providers and patients, with Ensemble aiming to lead the charge in innovative solutions. “There is tremendous opportunity to reduce the friction in healthcare for providers and consumers and we want to be at the forefront of innovation that benefits providers and their patients. The addition of two new strategic investment partners will provide Ensemble access to additional capital to support our mission and bring deep expertise and networks within the healthcare industry.”
Recognition as Industry Leader and Commitment to Innovation
Ensemble Health Partners’ commitment to excellence has been consistently recognized within the healthcare industry. For three years running, Ensemble has been named “Best in KLAS” for full revenue cycle outsourcing, a testament to its dedication to providing top-tier services and achieving superior client satisfaction. This prestigious recognition underscores Ensemble’s expertise and reliability in the revenue cycle management domain.
Innovation is at the heart of Ensemble Health Partners’ strategy. The company continually invests in cutting-edge technologies and is actively developing and implementing new capabilities within its Ensemble IQ (“EIQ”) revenue cycle management platform. This commitment to technological advancement is further evidenced by the recent award of a sixth U.S. patent for its innovative automation technology, highlighting Ensemble’s proactive approach to enhancing efficiency and effectiveness in revenue cycle processes. Most recently, Ensemble has invested in a groundbreaking revenue cycle automation platform that leverages advanced Artificial Intelligence (AI) to analyze user behavior and optimize workflows, ensuring the most efficient path for every process within the revenue cycle.
Investor Confidence in Ensemble’s Vision and Growth Potential
The investment from Berkshire Partners and Warburg Pincus reflects strong confidence in Ensemble Health Partners’ vision, market position, and future growth prospects. Sam Spirn, Managing Director of Berkshire Partners, acknowledged Ensemble’s leadership in the rapidly expanding revenue cycle management sector. “We are proud to partner with Ensemble, the market leader in the growing end-to-end revenue cycle management space,” Spirn commented. He emphasized the impressive growth Ensemble has demonstrated and affirmed that their investment is aimed at strengthening the company’s already robust service offerings, product suite, and technological infrastructure. “Ensemble has experienced exponential growth during the last few years and our investment will help further strengthen the Company’s industry-leading services, products, and technologies.”
Echoing this sentiment, TJ Carella, Managing Director, Head of Healthcare at Warburg Pincus, highlighted Ensemble’s track record of delivering exceptional results to healthcare providers. “We’re impressed by both Ensemble’s growth and track record of providing exceptional results to healthcare providers,” Carella stated. Amr Kronfol, Managing Director at Warburg Pincus, further elaborated on the strategic intent behind their investment, focusing on supporting the adoption of emerging technologies to maximize financial impact for providers. “Our investment will support their adoption of emerging technologies to deliver concrete solutions that bring maximum impact to providers’ bottom line,” Kronfol added.
Golden Gate Capital, which partnered with Ensemble Health Partners previously, will remain a minority stakeholder, demonstrating continued belief in the company’s trajectory. Doug Ceto, a Board representative for Golden Gate Capital, expressed pride in the successful partnership and the transformative growth achieved over the past three years. “We are proud of our successful partnership with Judson and the Ensemble management team over the past three years as we made significant investments to help build and transform the business,” Ceto stated. “We look forward to continuing to support the Company alongside Berkshire Partners, Warburg Pincus and BSMH.” Bon Secours Mercy Health (BSMH) will also continue its partnership as a commercial partner, shareholder, and board member, reinforcing the collaborative ecosystem surrounding Ensemble Health Partners.
The investment transaction is subject to standard closing conditions and regulatory approvals. Guggenheim Securities, LLC acted as the exclusive strategic and financial advisor to Ensemble, and Honigman, LLP served as legal counsel.
About Ensemble Health Partners
Ensemble Health Partners stands as a leading force in technology-enabled revenue cycle management solutions for health systems and affiliated physician groups. Offering comprehensive end-to-end RCM services alongside a suite of targeted point solutions, Ensemble partners with healthcare organizations nationwide to navigate the complexities of revenue cycle, improve financial performance, and enhance the patient financial experience.
About Berkshire Partners, Warburg Pincus, and Golden Gate Capital
Berkshire Partners is a Boston-based investment firm with over 35 years of experience in supporting growing companies. With a portfolio spanning various sectors including healthcare, consumer, and technology, Berkshire has a proven track record of fostering growth and value creation.
Warburg Pincus is a global growth investor with substantial assets under management. A leading investor in both healthcare and technology, Warburg Pincus brings extensive expertise and resources to support companies driving innovation in these sectors.
Golden Gate Capital is a San Francisco-based private equity firm with a significant capital base and a history of successful investments across diverse industries. Golden Gate Capital focuses on partnering with established businesses to drive long-term value.
Contact Information:
For Ensemble Health Partners:
Kendall Herold
Director of Strategic Communications
(859) 620-1222
[email protected]
For Berkshire Partners:
Zachary Tramonti
Sard Verbinnen & Co.
[email protected]
For Warburg Pincus:
Kerrie Cohen
Head of Corporate Communications, Americas
(212) 878-9207
For Golden Gate Capital:
Jenny Gore / Chloe Clifford
Sard Verbinnen & Co.
[email protected]
