NewFrancisco Partners takes Weave private as RCM consolidation reaches patient communications and payments →
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RCM Intelligence for Healthcare Finance Teams
Monday, August 24, 2026
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RevCycleAI Transaction Intelligence

The RCM deal market, tracked.

A structured ledger of acquisitions, funding rounds, private-equity investments and capital-markets activity across healthcare revenue cycle.

162 verified events across 2021–2026 · Updated October 1, 2026
162Tracked events
114M&A / PE
42Funding rounds
$48.1BKnown disclosed value
What the market is saying

RCM platforms are buying execution, not analytics.

Recent acquirers are adding prior authorization, autonomous coding, document intelligence, underpayment recovery and specialty workflows. Capital is concentrating behind broader operating platforms that can execute work—not just surface it.

Capital concentration
Enterprise platformsIKS, R1, Med-Metrix
AI-native RCMCandid, Commure, Amperos
Specialty workflowsProcode, InsideDesk, Raintree
162 events shownNewest first · Export reflects the active filters
Date
Company / transaction
Type
Buyer / investor
Value
Segment
Sep 29, 2026
Thoreau commits $500M to Ortet
Frontier health AI lab launches with a $500M commitment to build compute, data infrastructure and patient-centered health models across biological, clinical, operational and financial dimensions.
Committed
Funding
Thoreau
$500M
Frontier health AI / foundation models
Sep 29, 2026
Venture Medical acquires Medipyxis
Wound-care EMR and revenue-cycle platform joins Venture Medical as a wholly owned subsidiary
Completed
M&A
Venture Medical
Undisclosed
Wound care EMR / RCM
Sep 22, 2026
Heidi raises $100M Series C + $240M growth financing
Ambient clinical AI company reaches US$900M valuation and expands toward agentic care
Announced
Funding
Blackbird; General Catalyst; Phoenix Court; Point72; Headline
$340M
Ambient clinical AI / agentic care
Sep 21, 2026
DexCare acquires Mila Health
Adds AI care-coordination agents for outreach, scheduling, patient preparation and follow-up on DexCare's governed access data model
Announced
M&A
DexCare
Undisclosed
Patient access / AI care coordination
Sep 18, 2026
Thoreau and investors commit $100M to Penelope Health
Real-time payer policy intelligence infrastructure; expands insurer coverage and moves coverage determination upstream
Announced
Funding
Thoreau; BHI; Twine Ventures; Seedcamp
$100M
Payer policy intelligence / RCM infrastructure
Sep 16, 2026
MRO acquires Vyne Medical
MRO adds intelligent clinical data intake and document processing across paper, fax, voice and images to its enterprise clinical data platform
Completed
M&A
MRO
Undisclosed
Clinical data / HIM / RCM
Sep 15, 2026
Medallion acquires Andros
AI-native credentialing platform expands across health plans, health systems and provider organizations
Announced
M&A
Medallion
Undisclosed
Credentialing / payer enrollment
Sep 15, 2026
Hello Patient acquires Converse Health
Patient communications AI expands into referral, chart and payer-paperwork workflows for outpatient practices
Announced
M&A
Hello Patient
Undisclosed
Patient access / administrative AI
Sep 15, 2026
Kairon Health raises $5M
Funding for a data-driven value-based care execution layer spanning care management, coding, outreach and operational workflows
Closed
Funding
See RCAI analysis
$5M
Value-based care / care operations
Sep 15, 2026
KKR and Neuberger invest in Datavant
Significant minority investment in healthcare data infrastructure; New Mountain Capital retains control
Announced · Q4 close expected
PE / Growth
KKR; Neuberger Capital Solutions; Neuberger Private Markets
Undisclosed
Healthcare data infrastructure
Sep 15, 2026
Waystar explores strategic options including potential sale
Public RCM and payments platform begins an early-stage strategic review; no transaction has been agreed
Reported / strategic review
Capital Markets
Waystar; advised by Evercore and Barclays
~$5.2B market value
Enterprise RCM / payments
Sep 14, 2026
Nara Health raises $14M across pre-seed and seed rounds
AI-native third-party administrator spanning benefits administration, claims processing, care orchestration, and member support
Closed
Funding
Khosla Ventures; Long Journey Ventures; Superior Studios
$14M
AI-native TPA / claims administration
Sep 14, 2026
SENA Health raises Series A
AI-powered Clinical Command Center combines intelligent automation with clinical and operational expertise across healthcare access and operations.
Verified
Funding
Rittenhouse Ventures
Undisclosed
AI Operations · Patient Access · Care Coordination
Sep 11, 2026
UrgentIQ raises $15M Series A
AI-native urgent-care EMR expands into native billing, AI coding, live insurance verification and AI checkout.
Verified
Funding
Five Elms Capital
$15M
Urgent Care · RCM · Vertical AI
Sep 11, 2026
Archy raises $50M Series C
Dental practice-management platform scales AI agents across insurance, claims, payments, documentation and patient communication
Closed
Funding
JMI Equity; TCV; Entrée Capital; Bessemer Venture Partners; CRV; Alven
$50M
Dental RCM / AI practice management
Sep 10, 2026
Epsilon Health
AI-native radiology practice emerging from stealth with capital to scale its integrated physician-and-AI model.
Verified
AnalysisSource
Series A
Investor details: see company announcement
$20M
Series A
Clinical AI · Radiology · AI-Native Practice
Sep 10, 2026
Vheda Health
Agora's first healthcare investment; growth capital for geographic expansion, product development and acquisitions.
Verified
AnalysisSource
Growth Equity
Investor: Agora
$47M
Growth investment
Payer Tech · Population Health · Virtual Care Engagement
Sep 8, 2026
Forus
Series C for its AI-powered medication access network spanning insurance authorization, financial assistance and fulfillment routing.
Verified
AnalysisSource
Funding
Lead: Bain Capital Ventures
Also: Thrive Capital, General Catalyst, Accel, Redpoint, BoxGroup, Pear VC, Vast Ventures, SV Angel
$150M
Series C · $3B valuation
AI Healthcare · Prior Authorization · Medication Access · Administrative Automation
Sep 8, 2026
GenHealth.ai
Series A to scale AI agents for healthcare administrative workflows including intake, eligibility, prior authorization, billing and denials.
Verified
AnalysisSource
Funding
Lead: Flare Capital Partners
Also: Craft Ventures, Obvious Ventures, Eniac Ventures, InHealth Ventures, Epsilon Health Investors, ARTIS
$16.5M
Series A
AI RCM · Prior Authorization · Billing · Denials · Digital Labor
Aug 27, 2026
Savista acquires ABW Medical
Savista expands into ambulatory and non-acute RCM, adding community health, medical group, rural health and athenahealth ecosystem expertise
Completed
M&A
Savista
Undisclosed
Ambulatory / non-acute RCM
Aug 18, 2026
R1 to acquire Humata Health
Prior authorization AI moves inside R1's Phare OS
Announced · Q3 close expected
M&A
R1 RCM
Undisclosed
Prior auth AI
Jul 29, 2026
Procode raises Series A
Capital to scale AI surgical coding and acquire specialty billers
Closed
Funding
Health Velocity Capital
$10M
Surgical coding
Jul 28, 2026
Sustainable Medical Billing acquires RevCycle Partners
Specialty RCM provider acquires optometry-focused billing and credentialing firm serving more than 400 practices; RevCycle's software business was separated into OneSpot before closing
Completed
M&A
Sustainable Medical Billing
Undisclosed
Optometry RCM / credentialing
Jul 22, 2026
Candid Health raises Series D
Large growth round for autonomous medical billing infrastructure
Closed
Funding
Sixth Street Growth
$120M
Autonomous RCM
Jul 21, 2026
Assort Health raises Series C
AI agents spanning scheduling, intake, referrals and payments
Closed
Funding
Menlo Ventures
$120M
Patient access AI
Jun 9, 2026
ECLAT completes management buyout
Founders and management acquire the company from Gulf Capital
Completed
MBO
ECLAT management
Undisclosed
RCM / risk adjustment
Jun 9, 2026
Radiant Healthcare acquires Pro Med Billing
Radiant Healthcare acquires the Midland, Michigan revenue cycle firm focused on medical billing and reimbursement services
Completed
M&A
Radiant Healthcare
Undisclosed
Physician RCM / billing / reimbursement
Apr 22, 2026
Amperos raises Series A
Launches AI-native denial management and revenue recovery platform
Closed
Funding
Bessemer Venture Partners
$16M
Denial management
Feb 11, 2026
Care.fi raises Series A
Equity and debt financing for hospital RCM infrastructure
Closed
Funding
July Ventures
$8M
Hospital RCM fintech
Dec 3, 2025
Angle Health raises $134M Series B
AI-native health benefits platform for small and midsize employers; financing combines equity and debt
Closed
Funding
Portage
$134M
Health benefits / payer administration
Nov 11, 2025
Emergence acquires MedEvolve
Long-term software platform adds AI-powered RCM automation and analytics
Completed
M&A
Emergence / Pritzker
Undisclosed
RCM automation
Oct 22, 2025
R1 acquires Phare Health
AI-native inpatient coding and CDI team joins R1's R37 innovation lab
Completed
M&A
R1 RCM
Undisclosed
Coding / CDI AI
Sep 30, 2025
Smarter Technologies acquires Pieces
Clinical note automation connects documentation to reimbursement intelligence
Completed
M&A
Smarter Technologies
Undisclosed
Documentation AI
Aug 20, 2025
Develop Health raises Series A
GenAI platform automates benefits verification, prior auth and payer follow-up
Closed
Funding
Wing Venture Capital
$14.3M
Prior authorization
Aug 19, 2025
Wisdom raises Series A
AI-powered dental billing platform brings total funding to $28M
Closed
Funding
Permanent Capital Ventures
$21M
Dental RCM
Aug 14, 2025
Arintra raises Series A
Funding scales GenAI-native autonomous coding across health systems
Closed
Funding
Peak XV Partners
$21M
Autonomous coding
Jul 22, 2025
Charta Health raises Series A
AI chart review targets missed codes, denials and revenue leakage
Closed
Funding
Bain Capital Ventures
$22M
Coding / chart review
Jun 4, 2025
Amperos raises seed funding
Launches an AI biller for denials, claims follow-up and collections
Closed
Funding
Uncork Capital
$4.2M
Denial management
May 14, 2025
Cohere Health raises Series C
Capital expands AI-powered clinical decisioning and prior authorization
Closed
Funding
Temasek
$90M
Prior authorization
Mar 25, 2025
VisiQuate acquires Rotera
Automation and agentic AI capabilities join the Machina platform
Completed
M&A
VisiQuate
Undisclosed
RCM automation
Feb 12, 2025
Candid Health raises Series C
Funding expands GenAI features and autonomous billing infrastructure
Closed
Funding
Oak HC/FT
$52.5M
Autonomous RCM
Jan 16, 2025
Knack RCM acquires HealthyBOS
Deepens DME expertise and expands delivery operations in the Philippines
Completed
M&A
Knack RCM
Undisclosed
DME RCM
Dec 18, 2024
Aspirion acquires Boost Healthcare
Adds underpayment recovery and denials expertise to Aspirion’s complex-claims platform
Completed
M&A
Aspirion
Undisclosed
Complex claims
Oct 1, 2024
Accel-KKR acquires VisiQuate
Growth investment backs expansion of healthcare revenue-cycle analytics and automation
Completed
PE Buyout
Accel-KKR
Undisclosed
RCM analytics
Sep 11, 2024
Candid Health raises Series B
Funding scales an API-first platform for automated medical billing workflows
Closed
Funding
8VC
$29M
Autonomous RCM
Jun 25, 2024
Adonis raises Series B
Funding expands automation for billing, collections and revenue intelligence
Closed
Funding
Point72 Private Investments
$31M
Autonomous RCM
Jun 25, 2024
Provana acquires five RCM companies
Platform expansion adds coding, billing, collections and specialty-practice capabilities
Completed
M&A
Provana
Undisclosed
Physician RCM
May 14, 2024
SmarterDx raises Series B
Funding scales clinical AI for revenue integrity and care-quality improvement
Closed
Funding
Transformation Capital
$50M
Revenue integrity
Mar 12, 2024
Frazier Healthcare acquires RevSpring
Sponsor investment backs patient engagement, billing and payment communications
Completed
PE Buyout
Frazier Healthcare Partners
Undisclosed
Patient payments
Mar 12, 2024
CodaMetrix raises Series B
Capital expands AI-powered autonomous coding across specialties and care settings
Closed
Funding
Transformation Capital
$40M
Autonomous coding
Dec 6, 2023
R1 agrees to acquire Acclara
Providence revenue-cycle unit joins R1 in a transaction valued at $675 million
Announced
M&A
R1 RCM
$675M
Enterprise RCM
Nov 2, 2023
WellSky acquires Corridor
Adds outsourced coding, billing and consulting for post-acute providers
Completed
M&A
WellSky
Undisclosed
Post-acute RCM
Oct 31, 2023
Olive AI sells remaining business units
Waystar and Humata acquire clearinghouse and prior-authorization assets as Olive winds down
Completed
Asset Sale
Waystar / Humata Health
Undisclosed
Claims / prior auth
Oct 16, 2023
CPSI acquires Viewgol
Adds ambulatory RCM analytics, workflow and managed-services capabilities
Completed
M&A
CPSI
Undisclosed
Ambulatory RCM
Oct 3, 2023
Alpha II acquires RCxRules
Combines coding, claims editing and revenue-integrity software for ambulatory providers
Completed
M&A
Alpha II
Undisclosed
Claims editing
Sep 12, 2023
Aspirion acquires Infinia ML
Adds machine-learning capabilities for complex claims and reimbursement recovery
Completed
M&A
Aspirion
Undisclosed
Complex claims AI
Aug 3, 2023
Waystar acquires HealthPay24
Adds consumer payment technology and flexible patient-payment workflows
Completed
M&A
Waystar
Undisclosed
Patient payments
Jul 18, 2023
Ventra Health acquires ArcMed
Expands specialty billing services for hospital-based physician groups
Completed
M&A
Ventra Health
Undisclosed
Specialty physician RCM
Jul 13, 2023
Aspirion acquires Continuum
Adds denials and underpayment recovery to its complex-claims platform
Completed
M&A
Aspirion
Undisclosed
Revenue recovery
May 25, 2023
TA Associates invests in Alpha II
Growth investment backs coding, compliance and claims-editing software expansion
Completed
PE / Growth
TA Associates
Undisclosed
Claims editing
May 18, 2023
Aspirion acquires FIRM RCM
Expands complex-claims reimbursement and denial-resolution capabilities
Completed
M&A
Aspirion
Undisclosed
Complex claims
May 17, 2023
Adonis raises Series A
Funding supports an automation and intelligence platform for medical billing teams
Closed
Funding
General Catalyst
$17.3M
Autonomous RCM
Apr 25, 2023
Sagility acquires Devlin Consulting
Adds payment-integrity analytics and consulting to healthcare operations services
Completed
M&A
Sagility
Undisclosed
Payment integrity
Feb 27, 2023
CodaMetrix raises Series A
Funding accelerates AI-powered autonomous medical coding
Closed
Funding
SignalFire
$55M
Autonomous coding
Nov 9, 2022
Fathom raises Series B
Capital expands autonomous medical coding technology and market reach
Closed
Funding
Alkeon Capital
$46M
Autonomous coding
Aug 3, 2022
Revecore acquires Kemberton and Cura
Combines complex-claims, workers’ compensation and reimbursement recovery capabilities
Completed
M&A
Revecore
Undisclosed
Complex claims
Jun 21, 2022
Linden Capital acquires Aspirion
Sponsor acquisition backs expansion of complex-claims reimbursement services
Completed
PE Buyout
Linden Capital Partners
Undisclosed
Complex claims
Jun 21, 2022
Rivet raises Series B
Capital expands payer-contract, price-transparency and revenue analytics software
Closed
Funding
Catalyst Investors
$20.5M
RCM analytics
May 11, 2022
Med-Metrix acquires PatientPal
Adds digital patient intake, eligibility and payment workflows
Completed
M&A
Med-Metrix
Undisclosed
Patient access
Jan 10, 2022
R1 agrees to acquire Cloudmed
All-stock transaction values the revenue-intelligence platform at roughly $4.1 billion
Announced
M&A
R1 RCM
$4.1B
Revenue intelligence
Dec 1, 2021
Advent invests in Iodine Software
Strategic growth investment values the clinical-intelligence company above $1 billion
Completed
Growth
Advent International
Undisclosed
Revenue integrity / CDI
Jul 27, 2021
Nym raises $25M
Funding expands autonomous medical coding in the US market
Closed
Funding
Addition
$25M
Autonomous coding
Jul 1, 2021
Olive raises $400M
Funding values the healthcare automation company at $4 billion
Closed
Funding
Vista Equity Partners
$400M
Healthcare automation
Apr 5, 2021
Meduit combines with Avadyne Health
Merger expands patient-financial engagement and account-resolution services
Completed
M&A
Meduit
Undisclosed
Patient financial services
Mar 23, 2021
AKASA raises Series B
Capital scales AI-powered automation for health-system revenue-cycle teams
Closed
Funding
BOND
$60M
RCM automation
Mar 9, 2021
Cedar raises Series D
Funding scales a digital platform for patient billing, engagement and payments
Closed
Funding
Tiger Global Management
$200M
Patient payments
Feb 24, 2021
MedData acquires RevClaims
Adds complex-claims reimbursement and third-party liability services
Completed
M&A
MedData
Undisclosed
Complex claims
No transactions match this search.
Coverage includes transactions materially tied to healthcare revenue cycle, coding, patient access, payment infrastructure, prior authorization, revenue integrity and RCM services. Each event is counted once on the earliest verifiable public announcement date; a closing date is used only when no earlier announcement is available.Announced, completed and reported transactions are labeled separately. Known disclosed value excludes rumored values, IPO targets and undisclosed transactions.

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Weekly deal archive

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