Scoop: Matt Holt's Thoreau signs $12B deal for Ensemble Health

Matt Holt's Thoreau has signed a deal to acquire Ensemble Health, Axios Pro has learned.

Why it matters: It gives the former president of PE at New Mountain Capital a health tech beachhead, after his prior roll-up effort didn't materialize.

Inside the room: The deal was signed over the weekend and is expected to close in early Q3, according to a source with knowledge.

It would value Ensemble at about $12 billion, as first reported by Bloomberg and confirmed by Axios.

Backed by Apollo Global Management, Thoreau will be the controlling shareholder of Ensemble, Bloomberg reports.

Catch up quick: Ensemble, backed by Berkshire Partners and Warburg Pincus, was marketed on about $700 million in EBITDA.

Goldman Sachs and J.P. Morgan have been running the process.

Ensemble sells revenue cycle management tech that includes tools for coding, billing and utilization management.

Flashback: Holt had offered to buy five New Mountain health care tech companies for about $32 billion late last year before talks broke down in March.

Holt and Ensemble did not immediately respond to a request for comment.

Editor's note: This story has been corrected to state that Ensemble is backed by Berkshire Partners (not Berkshire Hathaway).