Check out today’s featured companies who have recently completed an M&A deal, and be sure to check out the full list of past healthcare IT M&A.
Luma Acquires Tonic, Taking on Healthcare Bottlenecks for Over 1,000 Health Systems and 100 Million Patients
Luma Health today announced that it has acquired Tonic Health from R1. Tonic Health is a leading provider in dynamic intake, e-consents, and patient-reported outcomes. The acquisition advances Luma’s mission to automate busywork, reduce staff friction, and make it simpler for patients to access care with its AI-native platform, and demonstrates Luma’s commitment to serving health systems using Oracle Health EHRs. Today, Luma serves more than 1/3 of people in the United States, as well as patients in the United Kingdom, Canada, and the Caribbean. The acquisition expands Luma’s reach to more than 1,000 health systems – including more than 15 of the United States’ leading academic medical centers – and 100 million patients currently served.
Luma acquired Tonic as part of a year of rapid growth, including recognition as one of INC’s 5,000 Fastest-Growing Private Companies for the second time, record ARR for the fifth straight year, expansion to Canada, the United Kingdom, and the Caribbean, and deployment of AI across its suite of products supporting patient readiness. Since its founding in 2010, Tonic has established a significant footprint serving healthcare organizations using Oracle Health EHRs. Together, the combined team will innovate to help health systems across the US and beyond address some of their most persistent operational challenges – particularly leading up to and following patient visits.
“Major health systems rely on both Luma and Tonic to cut out manual coordination between staff and patients and get patients ready for care,” said Aditya Bansod, Co-Founder and CTO at Luma. “We’ve long admired Tonic’s focus on EHR and partner integration, designing products that work for patients and healthcare providers, and making patient intake and follow-up simpler, and we’re thrilled to welcome them to Luma. Together, we dramatically reduce the effort to successfully coordinate care, freeing short-staffed teams from manual tracking and follow-up so our customers’ resources go farther.”
Healthcare organizations face an urgent need for more staff capacity to coordinate patients’ care, and that need can’t be solved with the budget and resources available…
Full release here, originally announced November 12th, 2025.
MedEvolve Announces Acquisition by Emergence to Accelerate AI-Driven Revenue Cycle Transformation
MedEvolve, Inc., a pioneer in AI-powered revenue cycle automation and analytics, today announced its acquisition by Emergence, an enterprise backed by The Pritzker Organization.
The strategic transaction combines MedEvolve’s Effective Intelligence platform – which integrates workflow automation, analytics, benchmarks, and generative AI – with Emergence’s long-term orientation and deep software expertise. MedEvolve’s technology captures millions of workflow actions across the revenue cycle, creating a proprietary dataset combined with advanced algorithms that power a new generation of industry benchmarks. These benchmarks give leaders real-time visibility into workforce performance, process breakdowns, and technology gaps.
“Coming out of management consulting in 2006, I saw the opportunity to develop software, specifically workflow automation and analytics, that could drive accountability and measurable performance across the complex revenue cycle,” said Matt Seefeld, CEO at MedEvolve. “Nearly twenty years later, that vision is more urgent than ever as healthcare organizations fight to maintain financial solvency. With Emergence behind us, we will accelerate development of new AI capabilities to help healthcare organizations meet our new benchmarks, expand operational capacity across the revenue cycle, and reclaim margin lost to administrative waste so they can focus on delivering exceptional clinical care to their communities.”
Healthcare providers are facing unprecedented financial pressure as costs rise, patient responsibility increases, and payers deploy AI to deny claims—all while uncompensated care continues to climb…
Full release here, originally announced November 11th, 2025.
MRO Accelerates Clinical Research Innovation with the Acquisition of Clinetic
MRO announces the acquisition of Clinetic, a leading recruitment management platform designed to help healthcare organizations and life sciences companies find, screen, and enroll patients for clinical trials with greater speed and precision. The addition of Clinetic’s AI-driven software and expertise marks another step forward in MRO’s commitment to being the single source for smarter data—merging progressive technology and deep clinical expertise to advance patient care and healthcare innovation.
“Partnering with more than 2,000 hospitals and health systems, we have seen first-hand the challenges facing hospitals that want to bring clinical studies to their patient population, but lack the resources, technology, or expertise to complete the process,” said Lidia Bernik, President of Curation Solutions. “By adding Clinetic to our existing platform, we can start delivering a ‘human-in-the-loop’ solution at scale. This will translate to more efficient research at our sites and higher success for clinical research sponsors on a national level.”
Clinetic’s software integrates directly with provider electronic health record (EHR) systems by installing secure, behind-the-firewall connectors. This enables direct access to comprehensive historical and clinical data needed to meet the unique requirements of each clinical trial protocol. By tapping into this real-time data layer, research teams can efficiently identify eligible patients across a wide range of therapeutic areas, build more precise cohorts, and plan studies with greater confidence.
“Clinetic has strong roots in healthcare, already evaluating the data of more than 15 million patients across the US,” said Tom Kaminski, Clinetic CEO…
Full release here, originally announced November 18th, 2025.
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