Bon Secours Mercy Health has plans to divest 51% stake in Ensemble Health Partners to Golden Gate Capital, a private equity investment firm.
Following this divestment, Bon Secours Mercy Health will hold a minority stake and will continue to serve as a commercial partner to Ensemble.
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It will also continue to have representation on the board.
Managed by the current management team, Ensemble will remain headquartered in Mason, Ohio, US
Set up in 2004, Ensemble teams up with hospitals across the country to provide revenue cycle outsourcing and other services to improve healthcare operations.
Ensemble founder and CEO Judson Ivy said: “Healthcare and the relationship between providers and payors are becoming increasingly complex, and the demand for our services is expanding significantly.
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By GlobalData“This is not a sale of the Company, but the addition of a new value enhancing investment partner that is fully committed to our philosophy and mission. We are confident Golden Gate Capital is the right partner as we embark on this exciting next chapter and look forward to what we can achieve together.”
Golden Gate Capital managing director Rishi Chandna said: “Ensemble has established itself as the clear leader in revenue cycle management and is highly respected for its approach, as it partners with clients, identifies the root cause of issues within the revenue cycle and provides customized, innovative solutions for its clients’ future success.”
Bon Secours Mercy Health president and CEO John M. Starcher, Jr. said: “This strategic infusion of additional capital will help Ensemble continue to expertly serve clients, while helping ensure Bon Secours Mercy Health can continue to improve the health and well-being of the communities we’re privileged to serve for generations to come.”
The transaction is, however, subject to standard regulatory approvals.
Bon Secours Mercy Health has 43 hospitals and more than 1000 points of care across seven states in the US.
