Weave Communications has officially closed its sale to Francisco Partners, an all-cash deal worth roughly $650 million that hands the Lehi-based healthcare technology company over to new private ownership. Stockholders will walk away with $7.40 per share, and the company says it will keep operating under the Weave name right where it started, in Lehi, Utah.
The $7.40-per-share payout represents an approximately 34% premium over Weave's unaffected closing stock price on August 17, 2026, according to a report from Yahoo Finance Canada. That date marked the last full trading day before the transaction was announced. With the deal now finalized, Weave's common stock has ceased trading and is no longer listed on the New York Stock Exchange, the outlet reports.
Brett White, Weave's chief executive officer, framed the sale as a turning point for the company rather than an ending, saying the acquisition marks the start of an exciting new chapter for Weave, according to Business Wire. Weave has operated for nearly two decades, enabling automated communication and engagement solutions for healthcare practices, per the same release.
What Weave Actually Does
Weave describes itself as an AI-powered patient engagement and payments platform built specifically for healthcare practices, the same Yahoo Finance Canada report notes. More than 40,000 customer locations currently rely on the company's tools, which include an AI receptionist capable of communicating with patients, answering questions, scheduling appointments and collecting payments, according to MobiHealthNews. Weave was founded in 2008 to help healthcare practices manage patient phone calls and texts, the outlet notes.
Weave has been building out its artificial-intelligence capabilities in recent years. In May 2025, the company acquired TrueLark to expand its agentic AI capabilities for multi-location practices, according to Utah Business. The growth strategy appears to be paying off financially: Weave's 2025 revenue reached $239 million, up 17% from $204.31 million in 2024, and first-quarter 2026 revenue climbed to $65.5 million, a 17.4% year-over-year increase, per the outlet's reporting.
Francisco Partners' Growing Healthcare Bet
Francisco Partners, the firm behind the acquisition, has raised more than $75 billion in capital and invested in over 500 technology companies since launching more than 25 years ago, according to Weave's own announcement via Business Wire. Ezra Perlman, co-president at Francisco Partners, said the firm sees significant opportunity to build on Weave's position through continued AI-powered product innovation, per the release.
Jefferies LLC served as Weave's exclusive financial advisor during the deal, while Orrick, Herrington & Sutcliffe LLP served as the company's legal counsel. Kirkland & Ellis LLP represented Francisco Partners. Weave was also named a 2026 Best Software Awards winner for healthcare software products by G2, according to the company's statement.
Part of a Busy Year for Healthcare Deals
The Weave sale lands amid a wave of healthcare and digital-health acquisition activity in 2026. Healthcare M&A activity ran stronger in the first half of the year, with more transactions recorded in the first quarter than in any previous first quarter, and the second quarter reaching its highest deal volume since 2019, according to HealthTech Magazine. Digital-health M&A activity specifically continued to accelerate in August 2026, MobiHealthNews reported.
Other notable deals this year include Ascension's completed $3.9 billion acquisition of AMSURG in June and Universal Health Services' $835 million purchase of Talkspace in August, per MobiHealthNews. Aveanna Healthcare Holdings acquired pediatric home-care provider Family First Homecare for $175.7 million, while Community Health Systems sold Crestwood Medical Center in Huntsville, Alabama, to Huntsville Hospital Health System for $459 million, according to HealthTech Magazine. Francisco Partners itself had already been active that month, having agreed earlier in August 2026 to acquire Canadian payments company Moneris, according to Yahoo Finance.
For now, Weave's day-to-day footprint in Lehi appears unchanged. The company says it will continue operating as a privately held business under its existing name and keep its headquarters in Utah, serving the tens of thousands of healthcare locations that already use its platform.
