Thoreau commits $500M to health AI lab Ortet

Ortet, a frontier health AI lab, launched with a $500 million commitment from Thoreau, the investment firm led by former New Mountain Capital president of PE Matt Holt.

The big picture: It's Thoreau's second investment this month, after a $100 million Penelope Health commitment — extending a dealmaking run that includes its roughly $12 billion deal for Ensemble Health in June.