As patients shift toward lower-cost outpatient care, demand is rising for revenue cycle management (RCM) systems focused on specific clinical specialties. Private equity firms are pursuing these businesses, particularly in post-acute and ambulatory sectors, which are viewed as more AI-resistant and better positioned to harness automation.

Dealmakers are targeting M&A around AI, data analytics, and automation to reduce denials and navigate complex reimbursement environments. In 2026, this trend continued with 8 deals highlighted by PE Hub. Notable activity includes Carlyle acquiring Knack RCM and Equalize RCM to build a global, AI-enabled platform, and Serent Capital investing in Saisystems Health and backing Raintree's acquisition of Spike Technologies.

Other significant moves include Longshore Capital Partners investing in Prochant, and Cleargate Capital Partners investing in Fellow Health Partners. Additionally, New Mountain Capital and Francisco Partners-backed Office Ally acquired Jopari Solutions, while Elevate PFS acquired Centauri Health Solutions’ health systems services unit. These investments aim to enhance operational scale and integrate advanced AI capabilities across the provider landscape.