Francisco Partners to take healthcare AI firm Weave private in $650 million all-cash deal

Francisco Partners has agreed to take Weave Communications private in an all-cash deal valuing the healthcare AI patient-engagement platform at about $650 million, the private-equity firm and Weave said on August 18, 2026. Weave shareholders will receive $7.40 a share, a roughly 34% premium to the stock’s unaffected close the day before.

Weave, founded in 2008 and based in Lehi, Utah, sells patient-engagement, communication and payments software to more than 40,000 healthcare practice locations, and has been adding agentic AI workflows that automate administrative tasks such as scheduling and billing follow-up. It will keep its name and Lehi headquarters after leaving the New York Stock Exchange, according to Weave’s announcement.

Going private is pitched as room to invest. Weave chief executive Brett White said the deal will “enhance our ability to invest in our AI platform, deepen our payments and revenue cycle management capabilities.” Francisco Partners co-president Ezra Perlman said Weave is “ideally positioned to capitalize on the healthcare industry’s large and growing demand for AI,” the firm said.

The deal needs shareholder and regulatory approval and is expected to close in the fourth quarter of 2026.

It fits a pattern for Francisco Partners, which has raised more than $75 billion and backed over 500 tech companies since its 1999 founding. The firm bought medical-software maker AdvancedMD for $1.125 billion in a deal completed in 2024, a sign it has been assembling healthcare-software assets while public-market investors stay cautious on the sector.