Combined companies form a leading modern and fully integrated technology platform for behavioral health providers nationwide
Sunwave Health and Lightning Step Technologies, two leading providers of modern software solutions for behavioral health and substance use organizations, announced a strategic combination of their businesses to form a unified technology platform, purpose-built for behavioral health providers nationwide. The merger is supported by a strategic growth investment in the combined entity by BVP Forge. In addition, existing investors Level Equity, Blueprint Equity, and Gallant Capital Partners have re-invested in the combined company.
Brent Michael, who brings deep healthcare IT leadership experience and served as CEO of Lightning Step, will lead the newly combined company as CEO. Sunwave Health co-founders Elie Levy and Jay Rosen will remain investors and serve as strategic advisors, with Levy joining the board of directors to support the company’s technical and product innovation goals.
The combined company delivers a natively integrated suite of electronic medical records (EMR), customer relationship management (CRM), revenue cycle management (RCM), and AI-powered workflows to streamline clinical, administrative, and financial processes and enhance care, improve operational efficiency, and simplify practice management.
Together, Sunwave and Lightning Step serve a national network of over 3,000 facilities, spanning all 50 states and supporting over 34,000 users across those installations. The combined company is one of the largest and fastest growing software providers serving the behavioral healthcare market, enabling it to more effectively invest in the next generation of product innovation that’s purpose-built for its market. Together, the companies will bring expanded resources to serve their customer base, which includes organizations ranging from teams of fewer than 10 employees to enterprises with thousands.
“By joining forces, we’re creating the most comprehensive and innovative platform in the industry, a true behavioral health all-in-one ecosystem,” said Mr. Michael. “This merger allows us to accelerate innovation, deepen our AI capabilities, and deliver a more unified experience that helps our customers focus on what matters most, providing life-saving care.”
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The strategic combination will accelerate product roadmap collaboration between Sunwave Health and Lightning Step’s product and engineering teams. Building on their respective AI offerings that assist with clinical documentation and workflow automation, the united company plans to expand its AI-driven enhancements to support clinical decisioning, predictive analytics, and revenue cycle optimization.
“We’ve always put customers first, and this combination continues that mission,” said Mr. Levy. “Together, Sunwave Health and Lightning Step will deliver a platform that empowers providers to do their best work. I’m excited to stay closely involved in shaping our product and technology vision for this next chapter.”
“The teams at Sunwave and Lightning Step share an intense, mission-driven focus on building behavioral health technology that improves the delivery of care and outcomes,” said Navid Oreizy, Partner at BVP Forge. “This partnership will build on both companies’ track records of customer trust and product excellence, supported by strong investor alignment focused on long-term value creation.”
Sunwave and Lightning Step will benefit from ForgeEdge™, BVP Forge’s business-building program, as they scale their sales efforts, invest more behind customer success, and increase product investments. BVP Forge will also provide the company with access to the growth IP, talent network, and resources of Bessemer Venture Partners, which has decades of experience scaling healthcare and technology companies into market leaders.
Source: Businesswire