Monthly headlines, deal activity, and investment themes across the sector.
Tegria, the Altaris-backed healthcare consulting and managed services firm, acquired CloudWave, which provides cybersecurity, cloud hosting and managed IT for hospitals. Terms were not disclosed. The deal adds 24/7 security operations to Tegria's hosting business.
Baba pairs care advocates with AI to coordinate care for Medicare and Medicaid members. FirstMark led the $40M round, with CVS Health Ventures joining. The company plans to expand its clinical teams and value-based arrangements with health plans.
Experian Health acquired eInsights, which finds coverage missed at registration, including retroactive Medicaid and secondary coverage, after care is delivered. Terms were not disclosed. The deal extends Experian's eligibility tools ahead of more frequent Medicaid redeterminations in 2027.
Lee Equity-backed healthcare advisory firm Marwood Group acquired Ronan Healthcare Compliance, an outsourced compliance provider serving more than 60 healthcare organizations across 21 specialties, adding risk assessments, due diligence and outsourced compliance officer services.
New investors Healthier Capital, Crosslink Capital and Hercules Capital joined existing backers, bringing Suki's total funding past $250M. The company will build AI agents for post-visit work such as referrals and prior authorizations across its 250+ health system customers.
The musculoskeletal-focused private equity firm invested an undisclosed amount in Ospitek, whose AI and IoT software tracks the full surgical episode to improve OR utilization and throughput. Proceeds will fund product development and sales, with a focus on ASCs and specialty hospitals.
Agilent will pay $240M in cash at closing, plus up to $30M in performance milestones, for enterprise digital pathology software company Proscia, which serves more than 4,000 labs, hospitals and clinics. Closing is expected early in Agilent's fiscal 2027.
The publicly traded digital MSK platform expands into virtual-first gastrointestinal care, combining Cylinder's clinical expertise with Hinge's technology into a single app targeted for a 2027 launch; deal expected to close Q3 2026.
Elation's clinical-first EHR platform will support HealthBar's onsite and virtual preventive-care offering, which serves dozens of employers and schools nationally, as the company continues its expansion.
The deal, which closed in Cleveland, unifies inpatient coordination, remote patient monitoring, chronic care management and cardiac AI into a single Epic-native workflow, part of a broader push among health tech providers toward integrated inpatient-to-post-acute platforms.
The acquired WellCheck technology, a 27-instrument preventive risk battery, becomes a native capability of Serelora's agentic EHR, extending it from individual-chart documentation into population-level risk analysis.
Agentic EHR platforms are moving beyond documentation into population-level risk analytics, as seen in Serelora's acquisition of ACTIN Care Groups' WellCheck risk-stratification technology.
Q1 2026 recorded 95 Health IT M&A/buyout transactions, including 18 high-quality buyouts, on pace to approximate 2025's near-record buyout levels. Market caution is concentrated at the upper end of the market; the lower end remains resilient.
Sponsor interest remains concentrated in governance, risk and compliance (GRC) tooling, with pharma services and pharma tech outsourcing expected to draw additional capital as pharma companies look to reduce cost and time-to-market.
ONC/HHS confirmed active enforcement of information-blocking rules for the first time since the 21st Century Cures Act, with product decertification now an explicit consequence; TEFCA has scaled to 600M+ documents exchanged across 75,000 connections.
Ambient documentation vendors are raising growth capital to move into post-visit agentic work. Suki's $90M Series E funds AI agents for referrals and prior authorizations, and Northwestern Medicine embedded OpenEvidence inside Epic enterprise-wide.
Strategic and sponsor buyers are paying for AI-enabled diagnostics software. Agilent agreed to acquire Proscia for up to $270M, and Sopris Capital carved Blackford Analysis's imaging orchestration platform out of Bayer.
Pacific Lake Partners-backed Vitana acquired Hollis Orthodontics, led by Dr. Bryan Hollis, in the Baton Rouge area. Terms were not disclosed. It is Vitana's fifth deal of 2026, a sign specialty DSOs are still adding practices as overall dental volume falls.
Family Care Center, a Denver-based outpatient mental health platform with 50+ clinics in five states and 800+ providers, closed a minority equity sale led by Apogem Capital. Terms were not disclosed. Revelstoke remains a partner.
Sunlight AI came out of stealth with seed funding the company puts at $17.4M and a first acquisition, Bradford Medical Associates. It runs business operations for independent practices with AI and staff, as an alternative to selling to health systems or PE.
LevinPro HC counted 105 physician medical group deals in Q3 2026, down from 107 in Q2 and 137 a year earlier. Dental made up 51 deals, PE firms and their platforms accounted for 53, and Imagen Dental Partners was the most active buyer with five.
Richmond-based KAC Dental acquired the practice of Anthony Puller, DDS, and Allgood Family Dentistry in Midlothian, building density in the Richmond metro and bringing the dentist-led group to four owned practices.
Holders of 99.21% of Radiology Partners' second-lien notes due 2030 consented to amendments that clear the way for its pending acquisition of Australia-based teleradiology provider Everlight Radiology. The consent fee is payable only if the Everlight deal closes.
The CRH Medical subsidiary acquired a majority interest in the Colorado Springs group, which provides anesthesia for GI procedures, adding 10 GI physicians through a partnership with Associates in Gastroenterology and bringing CRH to 17 Colorado locations.
Funds managed by HPS, part of BlackRock, will acquire Welsh Carson's roughly $2.8B equity stake in about 150 CenterWell Senior Primary Care clinics, taking majority ownership while CenterWell keeps a minority stake and continues to manage the clinics. Closing is expected in Q4 2026.
Under the Department's new Corporate Enforcement Policy, DOJ declined to prosecute the PE-backed optometry MSO for healthcare fraud and kickbacks after it self-disclosed, cooperated, and paid $1M in restitution, marking the first healthcare declination under the policy. Founder E. Bruce DiDonato was separately indicted on a seven-count fraud and kickback scheme tied to the 2021 PE recapitalization.
Revenue of $972.5M (+49% YoY), net income of $19.7M (+109% YoY), and Adjusted EBITDA of $68.9M (+43% YoY) for the quarter; management raised full-year 2026 Adjusted EBITDA guidance to $255–280M, citing accelerating provider and payer demand for its value-based care platform.
The combination pairs Included Health's clinician-in-the-loop virtual care and navigation platform with Firefly's clinically integrated health plan design, serving 20,000+ members through 2,300+ providers; Firefly reported 15%+ total cost of care savings and 90% member satisfaction in 2025. Expected to close Q3 2026.
Connecticut-based PE firm Clearview agreed to sell the New Jersey mental health and sober-living operator to nonprofit acquirer QCF/I, Inc., funded via a planned $610M unrated municipal bond issuance; Clearview and management expect ~$415M at closing, with up to $100M more tied to performance. ABH is projected to generate ~$170M revenue and ~$78M EBITDA this year.
The buyer adds the Washington-state bariatric and weight-loss surgery practice, along with Sound Weight & Wellness, extending its strategy of building an outpatient surgical facility portfolio.
The East Texas DPC practice, founded in 2014, joins Timshel's national holding company and plans to open new clinics across Texas; founder Jeremy Smith, MD becomes MyMD Select's chief medical officer under the deal.
PE is pulling back from broad physician rollups, redirecting capital toward differentiated platforms in behavioral health, fertility, dermatology and dental DSOs, alongside MSK/orthopedics and home health.
Both specialties are seeing modest multiple compression after several consolidation waves, with sponsors emphasizing operational integration and margin optimization over pure roll-up growth.
Nonprofit and mission-aligned buyers are emerging as credible exit paths, as seen in Clearview Capital's $610M muni-bond-financed sale of Advantage Behavioral Health to nonprofit acquirer QCF/I.
79+ state bills addressing PE/investor-backed ownership introduced across 26 states in 2026, with holding periods lengthening beyond five years and dividend recapitalization structures under increasing physician and regulator scrutiny.
Payers are moving clinic risk off their balance sheets. Humana's CenterWell senior primary care JV stake moves to BlackRock-managed HPS in a roughly $2.8B deal, and VillageMD sold 27 Houston clinics to Harbor Health.
Anesthesia platforms keep adding GI coverage through majority-stake deals. CRH Anesthesia took control of Southern Colorado Anesthesia Associates, adding 10 GI physicians and reaching 17 Colorado locations.
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