Francisco Partners to take health tech firm Weave private for $650m
Francisco Partners has agreed to acquire Weave, a Lehi, Utah-based AI-powered patient engagement and payments platform for healthcare practices, in a $650 million take-private deal.
The private equity firm Francisco Partners has reached an agreement to acquire Weave, an AI-powered patient engagement and payments platform specializing in healthcare practices. The acquisition, a take-private deal, is valued at $650 million. Weave, based in Lehi, Utah, provides solutions tailored for small and medium-sized healthcare businesses. The company was founded in 2008 and is currently led by CEO Brett White. This transaction highlights continued investment interest in the health technology sector.
Under the terms of the agreement, Weave stockholders are set to receive $7.40 per share in cash. The acquisition aims to leverage Weave's established vertical platform, which serves as a central hub for patient communication and revenue collection for tens of thousands of practices. Ezra Perlman, co-president at Francisco Partners, commented on Weave's strategic position, noting its ability to capitalize on the increasing demand for AI solutions within the healthcare industry to optimize practice operations and services.
Weave’s platform offers tools designed to enhance efficiency and patient interaction in healthcare settings. Its focus on AI-driven solutions addresses a growing need for technological advancement in managing patient relationships and financial transactions for healthcare providers. This move by Francisco Partners underscores a strategic alignment with companies that offer scalable, technology-driven solutions in specialized vertical markets.
The deal is anticipated to finalize in the fourth quarter of 2026. Financial advisory services to Weave are being provided by Jefferies LLC, with legal counsel from Orrick, Herrington & Sutcliffe LLP. Kirkland & Ellis LLP is acting as legal counsel for Francisco Partners in this transaction. These advisory roles facilitate the complex legal and financial aspects of the take-private acquisition.
This acquisition signals ongoing investor confidence in the health tech sector, particularly in platforms that integrate AI for operational efficiencies and patient engagement. The focus on solutions for small and medium-sized practices suggests a belief in the long-term growth potential within this specific segment of the healthcare market. Furthermore, it indicates a continued trend of private equity firms identifying and investing in technology companies that streamline essential functions within traditional industries like healthcare.